1
Q
Oligopoly
A
A small number of large firms who dominate the market
2
Q
Dynamic efficiency
A
the productive efficiency of a firm over a period of time.
3
Q
Collusuion
A
When rival firms agree to work together for mutual benefit e.g. profit
4
Q
Market failure
A
Inefficient allocation of resources in a market
Economics
flashcards
Decks in class (38)
# Cards
-
The Economic Problem37
-
Competitive Markets49
-
Business Economics55
-
Market Failure61
-
Government Intervention55
-
Measuring Economic Performance50
-
Aggregate Demand + Aggregate Supply66
-
Exam8
-
Summer Work Definitions1
-
Market Structures36
-
Definitions4
-
microeconomics definitions258
-
Microeconomics - Production Possibility Diagrams9
-
Microeconomics - Formulas10
-
Microeconomics - The objectives of firms4
-
Microeconomics - perfect Competition6
-
Microeconomics - Monopolistic Competition6
-
Microeconomics - Oligopoly8
-
Microeconomics - Monopoly And Monopoly Power4
-
Microeconomics - Price Discrimination4
-
Microeconomics - Contestable And Non Contestable Markets2
-
Microeconomics - Discrimination In Labour Market1
-
Microeconomics - Influences upon the supply of labour to different markets2
-
Microeconomics - The determination of relative wage rates and levels of employment in perfectly competitive labour markets3
-
Microeconomics - The determination of relative wage rates and levels of employment in imperfectly competitive labour markets6
-
Microeconomics - The influence of trade unions in determining wages and levels of employment1
-
Microeconomics - The national minimum wage3
-
Microeconomics - Government failure1
-
Microeconomics - Government intervention in markets20
-
Microeconomics - Public ownership, privatisation, regulation and deregulation of markets5
-
Microeconomics - Market Imperfections8
-
Microeconomics - Merit and demerit goods2
-
Microeconomics - Positive and negative externalities in consumption and production8
-
microeconomics - The meaning of market failure3
-
Microeconomics - How markets and prices allocate resources4
-
Microeconomics - Economies and diseconomies of scale7
-
Macroeconomic Definitions17
-
Stuff45
