All the keywords from the textbook AQA a-level Economics for a-level year 1 and AS by Ray Powell and James Powell
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Created by armanakther
almost 9 years ago
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Created by armanakther
almost 9 years ago
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Positive statement
Normative Statement
Need
Want
Economic welfare
Output
Production
Consumer good
Factors of Production
Land
Labour
Capital good
(producer good)
Enterprise
Finite resource
(non-renewable resource)
Renewable resource
Fundamental economic problem
Scarcity
(paucity)
Opportunity cost
Production possibility frontier
(PPF)
Economic growth
Full employment
Unemployment
Choice
Resource allocation
Productive eficiency
Allocative efficiency
