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Aneesh Singh
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Decks in this class (34)
Introduction to Economics
Define economy,
What is a good,
What is a service
4
cards
Government Failure
When does government failure occur,
What is the severity of governmen...,
How many types of government fail...
11
cards
Regulation
What is regulation,
What are the evaluation points of...
2
cards
Public goods
What is a public good,
What are examples of a public good,
Is the nhs a public good
12
cards
Information Gaps
What is an information gap and wh...,
What is perfect information,
What is symmetric information
8
cards
Government intervention
What is government intervention,
How can the government intervene,
How many ways can the government ...
25
cards
External Benefits & Triangle of Welfare Gain
What does the free market ignore,
When and how are the external cos...,
Describe the external benefit dia...
6
cards
External Costs & Triangle of Welfare Loss
What does the free market ignore,
When and how are the external cos...,
Describe the external cost diagra...
6
cards
Free Market Equilibrium
What is the firm supply curve,
What is the consumer demand curve...,
What is the market equilibrium an...
4
cards
Market Failure & Externalities
What is market failure,
What is an externality,
What is external cost also known as
20
cards
Incidence of a subsidy
What is the incidence of a subsidy,
What does the distribution or inc...,
How does the incidence of a subsi...
3
cards
Subsidies
What is a subsidy,
How does a subsidy affect produce...,
How doc you calculate the value o...
4
cards
Incidence of an indirect tax
What is the incidence of an indir...,
What does the incidence of the ta...,
How does the incidence of the tax...
3
cards
Taxes
What is a tax,
Why do governments tax,
What are the types of taxes
12
cards
Consumer & Producer Surplus
Define consumer surplus,
Define producer surplus,
Describe the area represented by ...
6
cards
Functions of Price Mechanism
How many functions of the price m...,
What are the functions of the pri...,
Define each function of the price...
5
cards
Income Elasticity of Demand (YED)
What is income elasticity of demand,
How do you calculate income elast...,
What does the yed value tell us a...
3
cards
Cross Price Elasticity of Demand (XED)
What is cross price elasticity of...,
How do you calculate cross price ...,
What does the xed value tell us a...
4
cards
Price Elasticity of Demand & Total Revenue
What is the relationship between ...,
How does elasticity change along ...,
What is the optimum point for max...
4
cards
Price Elasticity of Supply
What is price elasticity of supply,
What is price elastic supply,
What is price inelastic supply
7
cards
Price Elasticity of Demand
What is price elasticity of demand,
What is price elastic demand,
What is price inelastic demand
7
cards
Types of Economy
What types of economy are there,
What is a free market economy,
Which economists is a free market...
11
cards
Functions of Money 💵
What is money,
Why has the development of money ...,
How many functions of money are t...
4
cards
Division of Labour
What is the division of labour,
What are the advantages of the di...,
What are the disadvantages of the...
3
cards
Specialisation
What is specialisation,
What are the advantages of specil...,
What are the disadvantages of spe...
3
cards
Role of Value Judgements
When do governments use value jud...,
When could would consumers produc...
2
cards
Positive & Normative Economic Statements
What is positive economics,
What is normative economics
2
cards
Production Possibility Frontiers (PPFs)
What is a ppf,
What are the 2 things change in t...,
What is economic growth
7
cards
Renewable & Non-renewable Resources
What is a renewable resource,
Give examples of renewable resources,
What are the evaluation points of...
8
cards
The Economic Problem
What is the economic problem,
What are economic agents,
Who are the economic agents
6
cards
Price Determination
How is price determined,
What is equilibrium price,
What is excess supply
7
cards
Demand & Supply
What is demand,
What is supply,
What is revenue
17
cards
Rational Decision Making
What do economic models show,
What is consumer utility,
What is firm utility
10
cards
Economics as a Social Science
Why is economics considered a soc...,
What 2 models do economists use t...,
What is a theoretical model
7
cards
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A-level Economics- Theme 1
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