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Economics

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

By: Rebecca KENWORTHY
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Decks in this class (16)

The Objectives of Government Economic Policy
What are macroeconomic objectives,
What are economic policies,
What are the main macroeconomic o...
14  cards
Macroeconomic Indicators
What are macroeconomic indicators,
What is gdp,
What is real gdp
36  cards
Index Numbers
What are index umbers used for,
What is a base year,
What does an index of 103 mean
8  cards
Price, Income and Cross Elasticities of Demand
What is the theory,
How do we work out percentage change,
What is an elasticity coefficient
33  cards
The Purpose and Nature of Economic Activity
What are needs,
What are wants,
Does the world have limited resou...
10  cards
Economic Methodology
Is economic methodology a social ...,
Is social science subject to pers...,
What does ceteris paribus mean
6  cards
Economic Resources
What are the four factors of prod...,
What do firms do with these resou...,
What is labour
10  cards
Scarcity, Choice and The Allocation of Resources
What is scarcity,
Choices have to be made about how...,
What is an opportunity cost
7  cards
The Determinants of The Demand for Goods and Services
What is a market,
What is a competitive market,
What does a demand curve show
13  cards
The Determinants of Aggregate Demand
What is the price level,
What is real national output,
What are the components of aggreg...
20  cards
The Determinants of Long-Run Aggregate Supply
What is meant by long run aggrega...,
Is the lras curve vertical,
What does y represent of the x axis
9  cards
The Determinants of Short-Run Aggregate Supply
What does aggregate mean,
What is in the x and y axis of an...,
Which way does an sras curve go
9  cards
The Determinants of the Supply of Goods and Services
What is supply,
What is market supply,
What is the revenue formula
13  cards
The Determination of Equilibrium Market Prices
What is the market of equilibrium,
What will a change in price lead to,
What will a change in any other f...
3  cards
The Interrelationship Between Markets
What is a competitive market,
What are complements,
Do complements have an negative o...
10  cards
Need To Go Over Pt1
Progressive tax,
Regressive tax,
Supply side policies
8  cards

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Economics

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