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By:
Adrian Lee
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Decks in this class (23)
Chapter 1: The Nature of the Economic Problem
The economic problem,
The economic problem,
Scarcity
4
cards
Chapter 2: Factors of Production
Factors of production,
Land,
Labour
31
cards
Chapter 3: Opportunity Cost
Opportunity cost,
Influence of opportunity cost to ...,
Opportunity cost and workers
6
cards
Chapter 4: Production Possibility Curves
A production possibility curve,
Production points,
Movements along a ppc
6
cards
Chapter 5: Microeconomics and Macroeconomics
Microeconomics,
Macroeconomics,
Decision makers
6
cards
Chapter 6: The Role of Markets in Allocating Resources
The three key allocation decisions,
Different economic systems planne...,
Different economic systems planne...
10
cards
Chapter 7: Demand
Demand and price,
Individual demand,
Individual demand
12
cards
Chapter 8: Supply
Supply,
Market supply,
Market supply
16
cards
Chapter 9: Price Determination
Equilibrium price,
Excess supply,
Disequilibrium
4
cards
Chapter 10: Price changes
Chapter 10
1
cards
Chapter 11: Price Elasticity of Demand
Price elasticity of demand,
Interpretation of ped,
Determinants of ped
10
cards
Chapter 12: Price Elasticity of Supply
Price elasticity of supply,
Interpreting values of pes,
Determinants of pes
5
cards
Chapter 13: Market Economic System
Private sector,
Public sector,
State owned enterprises
11
cards
Chapter 14: Market Failure
Market failure,
Third parties,
Social benefits
18
cards
Chapter 15: Mixed Economy
Mixed economic system,
Benefits of government intervention,
Types of government intervention ...
7
cards
Chapter 16: Money and Banking
Money,
Functions of money,
Characteristics of money
8
cards
Chapter 17: Households
Wealth,
Disposable income,
Rate of interest
12
cards
Chapter 18: Workers
Factors that influence an individ...,
Wage factors,
Wage salary
28
cards
Chapter 19: Trade Unions
Wrq,
Types of trade unions craft unions,
Types of trade unions general unions
12
cards
Chapter 20: Firms
Primary sector,
Secondary sector,
Tertiary sector
35
cards
Chapter 21: Firms and production
Demand for factors of production,
Factors influencing demand for ca...,
Demand for land
7
cards
Chapter 22: Firms, costs, revenue and objectives
Total cost,
Average total cost,
Fixed costs
14
cards
Chapter 24: The Role of Government
Local government,
Government role as producer,
Government and private firms
3
cards
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Economics
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