More cards in this set

Card 6

Front

What does a PPF show?

Back

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Card 7

Front

Can a PPF demonstrate opportunity cost?

Back

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Card 8

Front

What does an outward shift in a PPF represent?

Back

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Card 9

Front

What does an inward shift in a PPF represent?

Back

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Card 10

Front

What is specialisation?

Back

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Card 11

Front

What is division of Labour?

Back

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Card 12

Front

Are advantages of division of labour: you get highly skilled workers, capital equipment can be used continously, no time is wasted, no training involved and there is more choice of jobs?

Back

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Card 13

Front

What are disadvantages of division of labour?

Back

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Card 14

Front

positive statements include facts and can be backed up, normative statements are value judgements?

Back

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