GCSE OCR Economics Introduction

?
The reward for owning enterprise
profit
1 of 9
Rent is this factor's reward
land
2 of 9
The concept of the next best alternative
opportunity cost
3 of 9
The basic economic problem is one of unlimited wants and needs but finite what?
resources
4 of 9
The principle of the Division of Labour involves what?
specialisation
5 of 9
The reward for owning labour
wages
6 of 9
Interest is the reward for what factor of production?
capital
7 of 9
The market economy is based upon what mechanism?
price
8 of 9
Another name for a centrally planned economy
command
9 of 9

Other cards in this set

Card 2

Front

Rent is this factor's reward

Back

land

Card 3

Front

The concept of the next best alternative

Back

Preview of the front of card 3

Card 4

Front

The basic economic problem is one of unlimited wants and needs but finite what?

Back

Preview of the front of card 4

Card 5

Front

The principle of the Division of Labour involves what?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Introduction to basic economic problem resources »