The Economic Problem - Key Words 0.0 / 5 ? EconomicsThe economic problemA2/A-levelAQA Created by: meganjxmesCreated on: 12-05-18 11:50 10863214975 Across 1. Economy in which the government decides how resources should be allocated (7, 7) 5. When free markets result in undesirable outcomes (6, 7) 6. The next best alternative given up in making a choice (11, 4) 7. Subjective statements that contain a value judgement - opinions (9) 10. Benefit gained from consuming one additional unit of a good (8, 7) Down 2. Objective statements that can be tested and disproved (9) 3. Choice made between two conflicting objectives, when you cannot achieve at the same time (5, 3) 4. The change in a variable caused by an increase of one unit of another variable (6) 8. Well-being, happiness, satisfaction - economic agents aim to maximise this (7) 9. Factor of production - equipment used to produce goods and services (7)
AQA Unit 3 Economics: Business Economics and the Distribution of Income 5.0 / 5 based on 1 rating Teacher recommended
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