edexcel economics unit 1 definitions Edexcel AS economics unit 1 (micro) 4.0 / 5 based on 5 ratings ? EconomicsASAll boards Created by: RiaCreated on: 29-04-12 20:22 Define opportunity cost the value of the next best alternative forgone 1 of 3 What is the division of labour? the production process broken up into several tasks and labour is allocated to each task 2 of 3 A minimum price scheme is a floor price below which price cannot fall 3 of 3
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