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GCSE
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More cards in this set
Card 6
Front
What is producer surplus?
Back
Card 7
Front
What is the price mechanism?
Back
Card 8
Front
In a free market, what is decided by the price mechanism?
Back
Card 9
Front
Describe the 4 functions of the price mechanism (AIRS)
Back
Card 10
Front
What is market failure?
Back
Card 11
Front
What can market failure result in?
Back
Card 12
Front
What is welfare?
Back
Card 13
Front
What are four causes of market failure? (PIME)
Back
Card 14
Front
What is indirect tax?
Back
Card 15
Front
What is direct tax?
Back
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