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Economics IGCSE 1 Ch 1-3

Horizontales
This is essential for surviving
This refers to economic activity of private individuals
Goods provided for by the goveremnt
Free good
Reward for labour
Willingness and ability to relocate from one area to another
Verticales
The cost of the next best alternative given up.
Unlimited
Reward for Land
Non-physical items
Limited
This good is limited in supply
Reward for capital