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More cards in this set
Card 6
Front
What is 'exchange'?
Back
Card 7
Front
What are some benefits of specialisation?
Back
Card 8
Front
What are some disadvantages of specialisation?
Back
Card 9
Front
What is 'division of labour'?
Back
Card 10
Front
What does division of labour effectively improve? What problems can division of labour cause for workers?
Back
Card 11
Front
What does a production possibility frontier/curve show?
Back
Card 12
Front
What does an outward shift in the PPF show? What about an inward shift?
Back
Card 13
Front
What does an outward rotation of the PPF show?
Back
Card 14
Front
What 2 main reasons might cause an outward shift in the PPF?
Back
Card 15
Front
What is a market economy?
Back
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