Economics Unit 1 Definitions
Keywords and their definitions for the Edexcel Unit 1 Economics exam.
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?- Created by: mo-abas
- Created on: 20-04-13 19:31
J | E | N | T | R | E | P | R | E | N | E | U | R | S | H | I | P | H | R | U | J |
F | R | E | E | M | A | R | K | E | T | E | C | O | N | O | M | Y | K | P | V | K |
R | O | Q | V | G | P | D | Q | H | A | G | L | P | I | J | G | Y | I | C | G | O |
B | A | S | I | C | E | C | O | N | O | M | I | C | P | R | O | B | L | E | M | D |
K | G | N | O | M | D | G | H | F | A | O | F | Q | P | I | B | I | F | S | U | S |
C | F | A | C | T | O | R | S | O | F | P | R | O | D | U | C | T | I | O | N | L |
M | Q | G | O | V | E | R | N | M | E | N | T | F | A | I | L | U | R | E | G | A |
W | F | X | N | A | V | C | N | H | H | Q | P | Y | P | J | V | Q | X | G | B | B |
V | X | I | D | S | E | N | U | J | K | A | M | H | M | I | N | E | W | N | Y | P |
P | I | D | I | V | I | S | I | O | N | O | F | L | A | B | O | U | R | L | S | O |
K | F | O | E | R | C | U | A | X | R | F | K | B | D | K | S | A | C | T | E | V |
L | F | P | O | S | I | T | I | V | E | S | T | A | T | E | M | E | N | T | F | W |
Y | D | A | Y | F | T | G | I | F | F | O | V | O | V | P | F | H | X | A | I | U |
N | A | T | I | O | N | A | L | M | I | N | I | M | U | M | W | A | G | E | K | Q |
N | E | G | A | T | I | V | E | E | X | T | E | R | N | A | L | I | T | Y | T | I |
Q | C | O | M | P | L | I | M | E | N | T | A | R | Y | G | O | O | D | S | P | J |
L | T | Q | P | N | K | C | C | D | B | K | F | L | N | H | T | Q | A | O | U | I |
O | R | X | M | S | J | S | O | O | H | D | X | Y | B | B | Y | D | S | S | A | I |
V | L | F | K | W | Q | M | I | R | N | I | Y | W | A | P | T | I | H | I | T | N |
P | J | O | M | B | D | Y | A | K | D | U | R | P | N | U | K | S | P | T | K | N |
S | G | P | T | Q | C | T | D | I | X | W | K | B | V | R | T | O | G | H | B | W |
Clues
- A sum of money that is legally the minimum amount that an employer can pay an employee. It is usually set at an hourly rate. (8, 7, 4)
- An economy in which what, how and for whom to produce are determined through the forces of supply and demand with little or no state intervention. (4, 6, 7)
- Goods or services that are frequently consumed together. (E.g - Tea and Biscuits) (13, 5)
- If social cost exceeds private cost, the difference is a negative externality (it means the same as external cost. (8, 11)
- jnkAn economic statement that can be tested in order to determine whether or not it is true. (8, 9)
- Resources are scarce but wants are unlimited. (5, 8, 7)
- Situation when government interference in a market to correct market failure results in a less efficient allocation of resources. (10, 7)
- The ability to get things moving, to organize and to take risks. Paid in profit. (16)
- The way in which tasks in the production process are broken down and allocated to different people. (8, 2, 6)
- Various resources, taken as a collective group, which contribute to the production of a product or service (CELL - Capital, Entrepreneurship, Land, Labour). (7, 2, 10)
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