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Jayan Chavda
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Decks in this class (35)
T1: LS1 - The Economic Problem
Define economics 1,
Define an economy 2,
What are the four factors of prod...
10
cards
T1: LS2 - Economics As A Social Science
What are models and why are they ...,
Define ceteris paribus 2
2
cards
T1: LS3 - PPF
Opportunity cost definition 1,
How do consumers use oc 2,
How are producers impacted by oc 3
19
cards
T1: LS4 - Normative And Positive
Positive statements 1,
Normative statements 2,
What are value judgements 3
4
cards
T1: LS5 - Specialisation, DOL and Money
What is the division of labour 1,
What are the benefits and disadva...,
What is the definition of the div...
8
cards
T1: LS6 - Economy Types
Define command economy 1,
Define free market economies 2,
Define mixed economies 3
12
cards
T1: LS7 - Decisions
What is the problem with predicti...,
What are the two solution methods...,
Define deduction 3
10
cards
T1: LS8 - Demand
Define demand 1,
Where is demand met best 2,
What is the law of demand 3
16
cards
T1: LS9 & LS10 - Supply & Price Determination
Define supply 1,
What is the law of supply 2,
What causes extensions in supply 3
15
cards
T1: LS11 - Taxes And Subsidies
Define taxes 1,
Define direct taxes 2,
Define an indirect tax 3
19
cards
T1: LS12 - Elasticity
Price elasticity of demand defini...,
What does price elastic mean and ...,
What is price inelastic it s and ...
19
cards
T1: LS13 - Consumer And Producer Surplus
Consumer surplus definition 1,
Producer surplus definition 2,
On a graph what is consumer surpl...
6
cards
T1: LS14 - Diminishing Marginal Utility
0
cards
T1: LS15 -XED/YED
0
cards
T1: LS16 - Price Mechanism
0
cards
T1: LS17 - Externalities
Market failure definition 1,
External costs 2,
External benefits 3
24
cards
T1: LS18 - Public Goods
Public good definition 1,
Non rivalrous definition 2,
Non excludable definition 3
10
cards
T1: LS19 - Information Gaps
Information gap definition 1
1
cards
T1: LS20 - Max And Min Prices
Maximum price meaning and how to ...,
Minimum price definition and how ...,
Benefits of minimum prices 3
6
cards
T1: LS21 - Trade Pollution Permits
0
cards
T1: LS22 - Regulation
0
cards
T1: LS23 - Government Falure
0
cards
T2: LS1 - Intro To Macro-economics
Macro economics definition 1,
Economic agents definition 2,
Who are the key players in the ma...
16
cards
T2: LS2 - Measures Of Economic Performance
How is each macro objective measu...,
What are index numbers 2,
How are index numbers calculated 3
11
cards
T2: LS3 - Aggregate Demand
Aggregate demand definition 1,
What are the components of ad 2,
What causes contractions and exte...
34
cards
T2: LS4 - Aggregate Supply
What are the two types of aggrega...,
What is the difference between wh...,
What factors determine shifts in ...
14
cards
T2: LS5 & LS7 - Circular Flow & Multiplier
Circular flow of income definition 1,
Who are the main economic agents ...,
What are the three main withdrawa...
19
cards
T2: LS6 - AD/AS & Real National Output
Equilibrium real national output ...,
Aggregate demand definition 2,
What is aggregate supply 3
7
cards
T2: LS8 - Inflation
Inflation definition and targets 1,
Deflation definition 2,
Disinflation definition 3
9
cards
T2: LS9 - Employment & Balance Of Payments
Define employment 1,
Define unemployment 2,
Claimant count definitions 3
16
cards
T2: LS10 - Economic Growth
0
cards
T2: LS11 - Macroeconomic Objectives
Define unemployment 1,
Economically inactive definition 2,
Define discouraged workers 3
8
cards
T2: LS12 - Demand-side Policies
0
cards
T2: LS13 - Supply-side Policies
0
cards
T2: LS14 - Conflicts And Trade-off Between Macroeconomic Objectives
0
cards
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Econ AL- LS Flashcards
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