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Title: IGCSE Economics Unit 1
Description: I always aim at achieving the higher grade as I have great expectations. These are complete notes, with worldwide examples and key words. Great structure, simple language with specific technical words.
Description: I always aim at achieving the higher grade as I have great expectations. These are complete notes, with worldwide examples and key words. Great structure, simple language with specific technical words.
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Opportunity cost: the benefit foregone from the alternative we choose to go without
...
•
Enterprise (the knowledge and skills people have to organize production) people who
have an enterprise are called entrepreneurs
...
Production-‐> using resources to make and sell goods
and services to satisfy our wants
...
Using up goods and services to satisfy our needs and wants -‐> consumption
People who buy goods and services -‐> consumers -‐> their spending is called consumption
expenditure
...
(health care and education)
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Title: IGCSE Economics Unit 1
Description: I always aim at achieving the higher grade as I have great expectations. These are complete notes, with worldwide examples and key words. Great structure, simple language with specific technical words.
Description: I always aim at achieving the higher grade as I have great expectations. These are complete notes, with worldwide examples and key words. Great structure, simple language with specific technical words.