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Decks in this class (48)
Useful Statistics for Essay Qs
0
cards
1.1.1 (Economics as a Social Science)
Why are economic models used deve...,
How are economic models developed 2,
Why are assumptions essential to ...
6
cards
1.1.2 (Positive and Normative Economics)
What is a positive statement 1,
What is a normative statement 2,
What is the impact of value judge...
4
cards
1.1.3 (The Economic Problem)
What is the core economic problem 1,
How is scarcity relative to demand 2,
What is the main economic goal in...
14
cards
1.1.4 (Production Possibility Frontiers)
What is the difference between a ...,
What does a ppf represent 2,
Why is the ppf bowed out curved 3
22
cards
1.1.5 (Specialisation and the Division of Labour)
What is specialisation 1,
Why is specialisation important 2,
What is a downside of specialisat...
24
cards
1.1.6 (Free, Mixed and Command Economies)
Name the three different types of...,
What are the 5 qualities of free ...,
Explain adam smith s invisible ha...
26
cards
1.2.1 - Rational Decision Making
Explain what aim consumers are as...,
Define the term utility 2,
How are the substitution bias and...
12
cards
1.2.2 - Demand
Define demand 1,
Describe the demand curve 2,
What causes movement along the de...
20
cards
1.2.3 - PED, XED and YED
Give the equation for ped 1,
Give the equation for xed 2,
Give the equation for yed 3
36
cards
1.2.4 - Supply
Name the conditions of supply 1,
Define supply 2,
Why does the market supply curve ...
20
cards
1.2.5 - Elasticity of Supply
Define the term price elasticity ...,
Give the formula for pes 2,
What will a unitary elastic curve...
15
cards
1.2.6 - Price Determination
Describe how to draw the equilibr...,
What is represented by the equili...,
Explain what happens at the marke...
20
cards
1.2.7 - Price Mechanism
Define the price mechanism s purp...,
Explain how the price mechanism w...,
Name the three functions of the p...
20
cards
1.2.8 - Consumer and Producer Surplus
Describe how to show consumer and...,
Define the term consumer surplus ...,
Give an example of cs 3
23
cards
1.2.9 - Indirect Taxes and Subsidies
Define the term indirect tax 1,
Name two types of indirect tax 2,
Explain what an ad valorem tax is...
22
cards
1.2.10 - Alternate Views of Consumer Behaviour
Note read tobersky carnaman think...,
What is the underlying assumption...,
Name the three reasons why irrati...
15
cards
1.3.1 - Market Failure
What is the role of a market 1,
What are the two categories of ma...,
When do market failures occur 3
21
cards
1.3.2 - Externalities
How are private costs represented...,
How are private benefits represen...,
What are social costs and benefits 3
42
cards
1.3.3 - Public Goods
What are the two key characterist...,
What is a quasi public good 2,
Why can pure public goods be rare 3
9
cards
1.3.4 - Information Gaps
What is the difference between sy...,
What can cause information gaps 2,
Why can information gaps cause ma...
14
cards
1.4.1 - Government Intervention in Markets
Gov rev diagram supply curve shif...,
Blank 2,
How does the gov use indirect tax...
36
cards
1.4.2 - Government Failure
Define the term government failure 1,
How might government intervention...,
How can government failure come a...
4
cards
2.1.1 (Economic Growth)
What is economic growth 1,
What is the main metric of econom...,
What is gdp and why is it useful 3
24
cards
2.1.2 (Inflation + Deflation)
Define the term inflation 1,
What is the uk s target inflation...,
Define the term disinflation 3
56
cards
2.1.3 - Employment and Unemployment
Give the formula for the unemploy...,
Give the formula for the inactivi...,
What is the working age currently 3
77
cards
2.1.4 - The Balance of Payments
Blank 1
1
cards
2.2.1 - Characteristics of AD
Give the representation of ad 1,
Define ad 2,
Define c 3
14
cards
2.2.2 - AD and Consumption
What is the effect of consumption...,
Define yd 2,
What is yd determined by 3
22
cards
2.2.3 - Investment (I)
Define i 1,
Define depreciation in terms of i 2,
Define gross i 3
16
cards
2.2.4 - Government Expenditure (G)
How does g lift ad 1,
What is the tax spend mix 2,
Give three influences on g 3
8
cards
2.2.5 - Net Trade (X-M)
Give the equation for net trade 1,
Explain the influence of real inc...,
Name the 6 influences on the net ...
8
cards
2.3.1 - The Characteristics of AS
0
cards
2.3.2 - Short-Run AS
Define the term as 1,
Define the term sras 2,
What assumption is made when draw...
9
cards
2.3.3 - Long-Run AS
Stuff abt neo classical curve 1,
Describe how to draw the keynesia...,
Describe what is happening at eac...
9
cards
2.4.1 - National Income
Describe the circular flow of inc...,
What is the two sector model 2,
Define t 3
18
cards
2.4.2 - Injections and Withdrawals
What is an expansion 1,
What is a contraction 2,
What happens during equilibrium o...
3
cards
2.4.3 - Equilibrium Levels of Real National Output
What is macroeconomic equilibrium 1,
What shifts the macroeconomic equ...,
Describe how to draw the diagram ...
11
cards
2.4.4 - The Multiplier
What does keynes argue the multip...,
What is the multiplier ratio form...,
What does the multiplier ratio te...
23
cards
2.5.1 - Causes of Growth
When does economic growth occur 1,
Why does lras matter 2,
How does the improvement or incre...
28
cards
2.5.2 - Output Gaps
What is the long run trend growth 1,
When does long run trend growth o...,
What is actual growth 3
23
cards
2.5.3 - The Trade Cycle
Give an alternate name for the tr...,
What is the trade cycle 2,
How is the trade cycle measured 3
24
cards
2.5.4 - The Impact of Economic Growth
Why do governments often pursue t...,
List the possible positive impact...,
How would rising incomes due to e...
32
cards
2.6.1 - Possible Macroeconomic Objectives
Why might governments intervene i...,
List the 4 key macroeconomic obje...,
List 3 other possible macroeconom...
11
cards
2.6.2 - Demand-Side Policies
Define the term monetary policy 1,
What is an instrument of policy 2,
What does monetary policy encompa...
66
cards
2.6.3 - Supply Side Policies
If intervention policies 1,
What are market based policies 2,
What are interventionist policies 3
23
cards
Monetary Policy and Quantitative Easing
Royal bank of scotland northern r...,
Downside of qe typically can be i...,
Blank 3
3
cards
2.6.4 - Conflicts and Trade-Offs
Why might trade offs between the ...,
Present the conflicts between the...,
Present the conflicts between the...
12
cards
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A Level Economics EDEXCEL A
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