the amount of satisfaction obtained from consuming a good

Micro Economics Edexcel 2 Flashcards

1

Rational decision making is where consumers spend on goods which minimise their utility

2

If supply shifts to the right on a demand and supply diagram what happens to price and quantity

3

Which of these is not a supply factor?

4

Mixed economy is where some resources are allocated by private sector and some by public sector

5

the demand curve slopes

6

The demand for PS4 games increased as the result of

7

Supply is the quantity of a good or service that firms are willing to sell at a given price

8

The disadvantage of a command economy is...

9

A command economy is one where

10

Utility is

11

which of these is not a demand factor

Micro Economics Edexcel 2