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GCSE
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More cards in this set
Card 6
Front
The next best alternative forgone
Back
Card 7
Front
Resources are allocated by the forces of supply and demand and goods are provided by private individuals and firms
Back
Card 8
Front
Where resources are allocated by the government
Back
Card 9
Front
Resources are allocated by a mixture of supply and demand and government decisions
Back
Card 10
Front
The concentration of works, firms, regions or whole economies on producing a narrow range of goods and services
Back
Card 11
Front
The concentration by workers on different stages of production
Back
Card 12
Front
A place where buyers and sellers come together to agree a price and to exchange goods/services
Back
Card 13
Front
Where there is a single dominant firm in the market
Back
Card 14
Front
When a single firm has at least 25% of the market share in a market
Back
Card 15
Front
The quantity of goods consumers are willing and able to purchase at a given price in a given period of time
Back
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