1
Q
What is Ceteris Paribus
A
Means ‘all other things remain equal’
Allows economists to simplify models
2
Q
What is a Positive Statement
A
A statement made without obvious judgements or emotions
3
Q
What is a Normative Statemtent
A
A statement which is subjective and is based on opinion
4
Q
What is the Basic Economic Problem
A
Humans have infinte wants but there are finate resources to satisfy these wants
What to produce
How to produce it
Whom to produce it for
5
Q
A
A Level Economics
flashcards
Decks in class (22)
# Cards
-
Macro5
-
Economic Growth5
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Government Intervention7
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Micro Year 1127
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Macro Year 1152
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Micro Elasticities17
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Tutor2u Glossary Theme 1188
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Tutor2u Glossary Theme 2296
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Micro Year 127
-
Macro Policies5
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Tutor2u Glossary Theme 3.1 Business Growth44
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3.2 - Business objectives11
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3.3 - Revenues, costs and profits50
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3.4 - Market structures78
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3.5 - Labour market60
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3.6 - Government intervention23
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4.1 - International Economics114
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Theme 1 Content1
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4.1 - Content14
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4.2 - Poverty and inequality35
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4.3 - Emerging and developing economies27
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Theme 1 Content0
