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By:
Benjamin Adeoti
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Decks in this class (36)
Chapter 1
Ceteris paribus,
What s positive economics,
What s normative economics
6
cards
Chapter 2
What s a scientific method,
What is a nominal value,
What is a real value
5
cards
Chapter 3
What does it mean for resources t...,
What is the name of non scarce re...,
What is the economic probelm
11
cards
Chapter 4
What s the scarcity problem,
What s opportunity cost,
What is ppf
14
cards
Chapter 5
What is specialisation,
In what ways does specialisation ...,
What is division of labour
9
cards
Chapter 7
What does it mean to be rational ...,
What is maximisation,
What do consumers maximise
9
cards
Chapter 8
What is demand,
What does the demand curve show,
What is the name for an increase ...
8
cards
Chapter 9
What is elasticity of demand,
What is price elasticity in demand,
What is elastic demand
9
cards
Chapter 10
What is income elasticity of demand,
What is the formula for income el...,
What are normal goods
6
cards
Chapter 11
What is supply,
What happens to the cost of produ...,
What are the conditions of supply
7
cards
Chapter 12
What is excess demand,
What is excess supply,
What is an equillibrium price
3
cards
Chapter 13
What s the price mechanism,
What are the 3 main functions of ...,
What s the rationing function
5
cards
Chapter 14
What are indirect taxes,
What is vat,
What are excise duties
8
cards
Chapter 15
What s neoclassical economics,
What is homo economics
2
cards
Chapter 16
What is market failure,
What are externalities,
What is underprovision of public ...
4
cards
Chapter 17
What are externalities,
What s the private cost,
What s the social cost
9
cards
Chapter 18
What are the properties of a priv...,
What are the properties of a priv...,
What are quasi public goods
4
cards
Chapter 19
What is information failure gap,
What is asymmetric information,
Examples of asymmetric information
4
cards
Chapter 20
What is the effect of government ...,
How is a tax used to reduce negat...,
What are the problems of using ta...
10
cards
Chapter 21
What is government failure,
What are the types of government ...,
What is distortion of the price s...
8
cards
Chapter 22
What is microeconomics,
What is macroeconomics,
What are the requirements for a g...
8
cards
C22 Measuring economic growth
What are booms,
What is nominal gdp,
What is real gdp
7
cards
C23 Aggregate Demand
What is aggregate demand,
What is national expenditure,
What is price level
7
cards
C24,C25 Consumption and Investment
What is consumption,
What are durable goods,
What are non durable goods
16
cards
C26 Government Expenditure
What is government expenditure,
What is the government budget,
How may the government increase ad
7
cards
C27 Aggregate Supply
What is as,
What causes a shift in sras,
What causes a shift in lras
7
cards
C28,C29,C30 ,Equillibrium and National Output,National Income,The multiplier
What is the multiplier,
What is the circular flow of income,
What causes the multiplier effect
12
cards
C31 - C33 Economics Growth
What is economic growth,
How is economic growth measured,
What is long run economic growth ...
13
cards
C34 Inflation
What is inflation,
What s positive inflation,
What s negative inflation
16
cards
C35 Unemployment
What are the measure of unemployment,
What are the advantages of the cl...,
What are the disadvantages of the...
19
cards
C36 Balance of Payments
What is the balance of payments,
What is the uk bop made of,
What are trade in goods
11
cards
C37 Macro economics objectives
What are the 4 main macroeconomic...,
What are some other economic obje...,
Why does the government want to d...
11
cards
C38 Demand side policies
What are demand side policies,
What are monetary policies,
What are contractionary monetary ...
36
cards
C39 Supply Side Polices
What are the aims of supply side ...,
How do supply side policies work,
What are free market supply side ...
20
cards
C40 Possible Macro Economic Objectives and Conflicts
What problem is faced when trying...,
How do changes in ad cause conflicts,
How does a shift of the lras allo...
9
cards
Chapter 48
What is a monopoly,
Why are they price making
2
cards
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