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AS Level Economics - Micro

This class was created by Brainscape user James Highton. Visit their profile to learn more about the creator.

By: James Highton
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Decks in this class (11)

Introduction to Micro-Economics
What are the four factor inputs,
What are the main sources of inco...,
How is wealth defined
17  cards
Specialisation and Division of Labour
What is specialisation,
What are the different levels tha...,
What can the gains of specialisat...
16  cards
Production Possibility Frontier (PPF)
What is a ppf,
What does the ppf show,
What is pareto efficiency
14  cards
Economic Thinkers
What is adam smith known as commo...,
What was adam smith s book called,
What is productive efficiency
3  cards
Theory of Market Demand
What is the definition for demand,
What is the basic law of demand,
What is the link between price an...
10  cards
Supply and Demand
What does equilibrium mean,
What is disequilibrium
2  cards
Price Determination
How do you calculate revenue,
What happens when supply is great...,
What happens when there is excess...
13  cards
Substitues and Complements
What is the link between the rela...,
What are the main differences bet...,
How can you determine whether the...
6  cards
Taxes and Subsidies
What is a indirect tax,
What is a specific tax,
What is ad valorem tax
5  cards
Negative Production and Consumption Externalities
When do negative externalities occur,
What is market failure,
What are some examples of negativ...
17  cards
Market Failure and Government Intervention
When does market failure occur,
What is government failure,
What are some benefits of price c...
5  cards

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AS Level Economics - Micro

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