Economics: How markets work
- Created by: samstarrz
- Created on: 12-04-14 15:20
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Clues
- A statement containing value judgement (9, 9)
- If PED is equal to 1 (7, 10)
- If you increase price, revenue will increase if... (9, 4)
- Stock levels are depleted over time due to economic exploitation (3, 9, 8)
- Stock levels can be maintained over a period of time (9, 8)
- The demand for the good or service it produces not the labour itself (7, 6)
- The loss of the value of the next best alternative foregone (11, 4)
- Where an individual, firm, region, country concentrates on the production of a limited range of goods and services (14)
- Where resources are allocated by the price mechanism (4, 6, 7)
- Where the production process is broken down into a sequence of stages and workers are assigned to a particular stage (8, 2, 6)
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