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Decks in this class (29)
chapter 1.1: The basic economic problem key words
Basic economic problem 1,
Public sector 2,
Private sector 3
8
cards
Econ test chapter 1.2 (Factors of production)
Labour productivity 1,
Labour force 2,
Enterprise 3
38
cards
Econ test chapter 1.3 (opportunity cost)
Opportunity cost 1,
What does opportunity cost influe...,
Why is there opportunity cost 3
10
cards
Econ test chapter 1.4 (Production possibility curve)
What does a production possibilit...,
What do the points along the curv...,
What do the points outside of the...
12
cards
econ chapter 2.1 (micro & macroeconomics)
What is microeconomics 1,
What is macroeconomics 2,
What is the governments main aim 3
5
cards
econ chapter 2.2 (the role of markets in allocating resources)
How does a market system work 1,
What are the three key allocation...,
What is the market system 3
17
cards
Chapter 2.3 & 2.4 Demand and Supply
Law of demand 1,
Contraction in supply 2,
Unit cost 3
36
cards
econ chapter 2.5 (Price determination)
What are two ways prices are dete...,
What do market forces move 2,
Explain how market forces would r...
6
cards
econ chapter 2.6 (price changes)
When does price change 1,
The effect of an increase in dema...,
The effect of a decrease in demand 3
6
cards
Econ chapter 2.7 (Price elasticity of demand)
Ow do you define price elasticity...,
What does an elastic ped graph lo...,
What does a ped value less than 1...
32
cards
Econ chapter 2.8 (Price elasticity of supply)
Define pes 1,
What is the pes figure always goi...,
When will value of pes be 1 3
21
cards
Chapter 2.9 Market economy
What does the advantages of a mar...,
What are the benefits of a market...,
Define consumer sovereignty 3
22
cards
Chapter 2.10 Market failure
When does market failure occur br...,
What are the types of market fail...,
What does failure to take into ac...
28
cards
Chapter 2.11 Mixed economic system
Define a mixed economy 1,
What are the different types of g...,
What is a price floor minimum pri...
39
cards
3.3 Workers (chapter 18)
Wage rate definition 1,
Piece rate definition 2,
Time rate definition 3
34
cards
3.4 Trade Unions ch.19
What do unions push for when the ...,
What benefits do trade unions pro...,
What do unions pressure governmen...
37
cards
3.5 Firms
Blank 1
1
cards
4.1/ch.24- role of govt.
What are the main factors that in...,
How can government influence the ...,
What is a natural monopoly 3
11
cards
4.2/ch.25 macroeconomic aims of govt.
What is the simple definition of ...,
What is the difference between ac...,
What does ad stand for and what i...
15
cards
4.3/ch.26 fiscal policy
Fiscal policy 1,
Budget deficit definition 2,
Balanced budget definition 3
22
cards
4.4/ch.27 monetary policy
Monetary policy 1,
The money supply 2,
Measures of the money supply 3
12
cards
4.5/ch.28 supply-side policy
What is the definition of supply ...,
How does improving education and ...,
What is the intended effect of cu...
13
cards
ch.29 - economic growth
Economic growth definition 1,
How is economic growth measured 2,
Difference between real and nomin...
13
cards
ch.30 - un/employment
Employment definition 1,
Unemployment definition 2,
Definition of full employment 3
16
cards
ch.31 inflation & deflation
Inflation definition 1,
Deflation definition 2,
Disinflation definition 3
18
cards
6.1- international specialisation
What is a likely benefit of natio...
1
cards
6.2 globalisation, free trade and protection
Definition of globalisation 1,
What are some of the reasons for ...,
Define a multinational company mn...
14
cards
6.3-foreign exchange rates
Define foreign exchange rate dist...,
Define appreciation depreciation ...,
List four reasons for demand for ...
13
cards
6.4 - current account of balance of payments
Define current account of balance...,
Define current account surplus de...,
Explain four causes of a current ...
10
cards
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Econ
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