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Economics Term 1 2017

This class was created by Brainscape user Ben Hutchison. Visit their profile to learn more about the creator.

By: Ben Hutchison
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Decks in this class (7)

Unit 1
What are resources used for,
What are free goods,
What is the economic problem
4  cards
Basic economic problem: choice and the allocation of resources
What is the basic economic problem,
What is the definition of the fac...,
What the four factors of production
39  cards
Occupations and wages
What are wages,
What is a salary,
What is piece rate
15  cards
Chapter 2 - specialisation and exchange
What is individual production,
What is the main disadvantage wit...,
What is specialised production
25  cards
Chapter 6 - financial institutions
What is a bank,
What services do financial instit...,
How do banks make a profit
35  cards
Chapter 5 - trade unions
What is a trade unions,
What are the functions of trade u...,
What are the four types of trade ...
21  cards
The allocation of resources
How is what to produce decided in...,
How is how to produce decided in ...,
How is for whom to produce decide...
52  cards

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Economics Term 1 2017

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