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15 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Need |
What you need to survive |
Survive |
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Want |
What you want to have so that you can feel satisfy, pleasure and comfortable |
Able to live without production |
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Production |
Using resources to make and delivering goods and resources and servivce |
Make or give |
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Consumption |
The use of goods and services, by consumers, to satisfy needs and want |
Use of product |
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Consumption |
The use of goods and services, by consumers, to satisfy needs and want |
Use of product |
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Factors of production |
Land labour capital enterprise |
Four things |
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Consumption |
The use of goods and services, by consumers, to satisfy needs and want |
Use of product |
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Factors of production |
Land labour capital enterprise |
Four things |
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Opportunity cost |
The cost if choosing between alternative uses of resources |
The sacrifice an aftermath |
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Production possibility curve (PPC) |
All the possible combination between two things when all the resources is fully use Can rise if have more resources by better labour and land |
Combination |
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Production possibility curve (PPC) |
All the possible combination between two things when all the resources is fully use Can rise if have more resources by better labour and land |
Combination |
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Customer |
Person who buy the product |
Buy |
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Production possibility curve (PPC) |
All the possible combination between two things when all the resources is fully use Can rise if have more resources by better labour and land |
Combination |
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Customer |
Person who buy the product |
Buy |
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Consumer |
Person who use the product |
Use |
