This class was created by Brainscape user Lucas Maniglia Brigagao Perry. Visit their profile to learn more about the creator.
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Decks in this class (87)
1.1.1 - Economics As A Social Science
What type of science is economics,
What are human interactions,
What does economics study
7
cards
1.1.2 - Positive & Normative Economic Statements
Describe positive statements,
Describe normative statments,
What is the role of value judgements
3
cards
1.1.3 - The Economic Problem
What is the basic economic problem,
How does scarcity have a direct i...,
What is a renewable resource
14
cards
1.1.4 - Production Possibility Frontiers
What does ppf stand for,
What is a ppf,
What is on the axes of a ppf
17
cards
1.1.5 - Specialisation & The Division Of Labour
What is specialisation,
What is the division of labour,
What does specialisation the divi...
17
cards
1.1.6 - Free Market, Mixed & Command Economies
What does the economic system aim...,
What is a free market economy,
What is a command economy
12
cards
1.2.1 - Rational Decision Making
What do consumers aim to maximise,
What is utility,
What do firms aim to maximise
4
cards
1.2.2 - Demand
What is the law of demand,
What is demand
2
cards
1.2.3 - Price, Income & Cross Elasticities Of Demand
0
cards
1.2.4 - Supply
0
cards
1.2.5 - Elasticity Of Supply
1
cards
1.2.6 - Price Determination
0
cards
1.2.7 - Price Mechanism
What is the price mechanism 2 points,
What are the functions of the pri...,
Describe the rationing function o...
8
cards
1.2.8 - Consumer & Producer Surplus
What is consumer surplus,
What,
What is society surplus
5
cards
1.2.9 - Indirect Taxes & Subsidies
0
cards
1.2.10 - Alternative Views Of Consumer Behaviour
0
cards
1.3.1 - Types Of Market Failure
1
cards
1.3.2 - Externalities
When do externalities occur 2 points,
What are external costs,
What are external benefits
19
cards
1.3.3 - Public Goods
What are private goods,
What are public goods,
What are the 2 features of public...
6
cards
1.3.4 - Information Gaps
Where do information gaps exist,
What is an underlying assumption ...,
What is symmetric information 2 p...
7
cards
1.4.1 - Government Intervention In Markets
What are some reasons why governm...,
What are the types of government ...,
What are examples of indirect tax
4
cards
1.4.2 - Government Failure
0
cards
2.1.1 - Economic Growth
What is economic growth,
How is economic growth typically ...,
How can you determine economic ac...
24
cards
2.1.2 - Inflation
What are the 3 types of inflation,
What is inflation,
What is inflation rate
22
cards
2.1.3 - Employment & Unemployment
What is unemployment 2 points,
What is the unemployment level,
What is unemployment rate the for...
7
cards
2.1.4 - Balance Of Payments
0
cards
2.2.1 - The Characteristics Of AD
What is aggregate demand,
What is ad made up of,
What is the formula for ad
16
cards
2.2.2 - Consumption
What is consumption,
What is disposable income,
What happens to disposable income...
7
cards
2.2.3 - Investment
Describe investment 3 points,
What is depreciation,
What is gross investment
3
cards
2.2.4 - Government Expenditure
0
cards
2.2.5 - Net Trade (X-M)
0
cards
2.3.1 - The Characteristics Of AS
1
cards
2.3.2 - Short - Run AS
0
cards
2.3.3 - Long - Run AS
0
cards
2.4.1 - National Income
What is the circular flow of money,
What is wealth,
Who owns wealth resources fops in...
9
cards
2.4.2 - Injections & Withdrawals
What are injections,
What are the examples of injectio...,
What are withdrawals leakages
6
cards
2.4.3 - Equilibrium Levels Of Real National Output
1
cards
2.4.4 - The Multiplier
1
cards
2.5.1 - Causes Of Growth
0
cards
2.5.2 - Output Gaps
0
cards
2.5.3 - Trade (Business) Cycle
0
cards
2.5.4 - The Impact Of Economic Growth
0
cards
2.6.1 - Possible Macroeconomic Objectives
What are the 7 possible macroecon...,
Why do governments intervene in a...,
Describe the macroeconomic object...
11
cards
2.6.2 - Demand - Side Policies
0
cards
2.6.3 - Supply - Side Policies
What do supply side policies aim ...,
What are the 2 categories of supp...
23
cards
2.6.4 - Conflicts & Trade - Offs Between Objectives And Policies
0
cards
3.1.1 - Sizes & Types Of Firms
0
cards
3.1.2 - Business Growth
0
cards
3.1.3 - Demergers
0
cards
3.2.1 - Business Objectives
0
cards
3.3.1 - Revenue
What is revenue,
What is total revenue tr its formula,
What is average revenue ar its fo...
21
cards
3.3.2 - Costs
What is the economic cost for a firm,
What is the short run sr,
What is the long run lr
21
cards
3.3.3 - Economies & Diseconomies Of Scale
What is economies of scale 2 points,
What does a business experience d...,
What is increasing returns to scale
30
cards
3.3.4 - Normal Profits, Supernormal Profits & Losses
1
cards
3.4.1 - Efficiency
0
cards
3.4.2 - Perfect Competition
0
cards
3.4.3 - Monopolistic Competition
0
cards
3.4.4 - Oligopoly
0
cards
3.4.5 - Monopoly
0
cards
3.4.6 - Monopsony
When does a monopsony occur,
What are examples of monopsony s ...,
What is a monopsonist
22
cards
3.4.7 - Contestability
0
cards
3.5.1 - Demand For Labour
What is the labour market compose...,
What is the demand for labour,
What does derived demand mean 2 p...
12
cards
3.5.2 - Supply Of Labour
What are the factors influencing ...,
What could be some points made fo...,
What could be some points made fo...
13
cards
3.5.3 - Wage Determination In Competitive & Non-competitive Markets
What are the labour market charac...,
One labour market characteristic ...,
One labour market characteristic ...
6
cards
3.6.1 - Government Intervention
0
cards
3.6.2 - The Impact Of Government Intervention
0
cards
4.1.1 - Globalisation
What is globalisation,
What has the integration of globa...,
What are the causes of globalisat...
9
cards
4.1.2 - Specialisation & Trade
What does international trade do ...,
What is absolute advantage,
Wh
16
cards
4.1.3 - Pattern Of Trade
0
cards
4.1.4 - Terms Of Trade
0
cards
4.1.5 - Trading Blocs & The World Trade Organisation (WTO)
What is a regional trading bloc,
What is a regional trading bloc a...,
What is economic integration
25
cards
4.1.6 - Restrictions On Free Trade
What does free trade aim to do,
What is protectionism,
What are the reasons for protecti...
18
cards
4.1.7 - Balance Of Payments
0
cards
4.1.8 - Exchange Rates
0
cards
4.1.9 - International Competitiveness
0
cards
4.2.1 - Absolute & Relative Poverty
0
cards
4.2.2 - Inequality
0
cards
4.3.1 - Measures Of Development
0
cards
4.3.2 - Factors Influencing Growth & Development
0
cards
4.3.3 - Strategies Influencing Growth & Development
0
cards
4.4.1 - Role Of Financial Markets
0
cards
4.4.2 - Market Failure In The Financial Sector
0
cards
4.4.3 - Role Of Central Banks
0
cards
4.5.1 - Public Expenditure
0
cards
4.5.2 - Taxation
0
cards
4.5.3 - Public Sector Finances
0
cards
4.5.4 - Macroeconomic Policies In A Global Context
0
cards
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A-Level Economics
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A Level Economics
- 50 decks
- 1987 flashcards
- 1068 learners
Decks:
Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
