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BARAN LANKA
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Decks in this class (19)
1.1 – Basic Economic Problem: Choice and the Allocation of Resources
What is economics,
What is the basic economic problem,
What are the factors of production
9
cards
2.1 – Economic Systems
What is an economy,
What is resource allocation,
What are the 3 economic systems
15
cards
2.2 How Markets Work
What is demand,
What is effective demand,
What does the law of demand state
34
cards
2.3 – Social Costs and Benefits; Market Failure
What are external costs,
What are external benefits,
What are private costs
8
cards
3.1 – Money and Finance
What is money,
Why do we need money,
What is the barter system
13
cards
3.2 – Occupations and Earnings
What are the different payment me...,
What is the time rate payment method,
What is the piece rate payment me...
19
cards
3.3 – The Role of Trade Unions
What are trade unions,
What are the functions of a trade...,
What is collective bargaining
7
cards
3.4 – Spending, Saving and Borrowing
What is disposable income,
What is consumption,
What is consumer expenditure
10
cards
4.1 – Types of Business Organizations
What is a sole trader,
What are the advantages of sole t...,
What are the disadvantages of sol...
23
cards
4.2 – Organizing Production
What is production,
What is productivity,
What is the formula for productivity
18
cards
4.3 – The Growth of Firms
Name the measures of firm size,
What are the two ways of growth,
What is internal growth
15
cards
4.4 – Competition and Monopoly
Why do firms compete,
What is price competition,
What is non price competition
17
cards
5.1 – Government Economic Policy
What are some functions of the go...,
What are the four macroeconomic o...,
What are the two demand side poli...
8
cards
5.2 – Taxation
What are taxes,
Why taxes,
What are progresssive taxes
11
cards
6.1 – Price Inflation
What is inflation,
How is inflation caused,
What is agreed as the key reason ...
8
cards
6.2 – Employment and Unemployment
What is labour force,
What is labour force participatio...,
What is unemployment rate
7
cards
6.3 – Output and Growth
What is national output,
What is national income,
What is national expenditure
17
cards
7.1 – Developed and less-developed economies
What does economic development mean,
What are developed countries,
What are under developed countries
8
cards
7.2 – Population
What is population,
What affects population,
Why do different countries have d...
6
cards
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Economics
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