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GCSE
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More cards in this set
Card 6
Front
Where an individual, firm, region, country concentrates on the production of a limited range of goods and services
Back
Card 7
Front
Where the production process is broken down into a sequence of stages and workers are assigned to a particular stage
Back
Card 8
Front
Where resources are allocated by the price mechanism
Back
Card 9
Front
Where resources are allocated by the government
Back
Card 10
Front
Where resources are allocated partly by price signals and partly by state intervention
Back
Card 11
Front
A statement of fact, that can be tested true or false
Back
Card 12
Front
A statement containing value judgement
Back
Card 13
Front
The responsiveness of the quantity demanded to a change in price
Back
Card 14
Front
Shifts in the demand curve
Back
Card 15
Front
If PED is greater than 1
Back
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