Basic Economic Concepts

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INTERNATIONAL TRADE
GLOBALISATION
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THE NEXT BEST ALTERNATIVE FORGONE WHEN MAKING AN ECONOMIC DECISION
OPPORTUNITYCOST
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THE C IN CELL
CAPITAL
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______ RESCOURCES, UNLIMITED WANTS
SCARCE
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THE E IN CELL
ENTERPPRISE
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THE FIRST L IN CELL
LAND
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THE SECOND L IN CELL
LABOUR
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THE POPULATION OF PEOPLE THAT WORK
EMPLOYED
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THE POPULATION OF PEOPLE WHO DON'T WORK
UNEMPLOYED
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A PLACE WHERE BUYERS AND SELLERS COME TOGETHER
MARKET
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AN INCREASE IN GDP
ECONOMICGROWTH
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WHEN PRODUCERS, REGIONS AND COUNTRIES FOCUS ON PRODUCING THOSE GOODS THAT THEY'RE BEST AT PRODUCING
SPEIALISATION
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Other cards in this set

Card 2

Front

THE NEXT BEST ALTERNATIVE FORGONE WHEN MAKING AN ECONOMIC DECISION

Back

OPPORTUNITYCOST

Card 3

Front

THE C IN CELL

Back

Preview of the front of card 3

Card 4

Front

______ RESCOURCES, UNLIMITED WANTS

Back

Preview of the front of card 4

Card 5

Front

THE E IN CELL

Back

Preview of the front of card 5
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