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m q
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Decks in this class (13)
Economic basics Topic 1 - The Basic Economic Problem
What is scarcity,
What are needs,
What are wants
30
cards
Economic basics Topic 2 - Production
What are factors of production,
Land,
Labour
21
cards
Economic Basics Topic 3 - Productivity
Produciton,
Productivity,
Labour productivity
10
cards
Economics topic 4 - Costs, revenues and profits
Profit,
Revenue,
Total costs
12
cards
Economics Topic 5 - economies and diseconomies of scale
What is average cost,
Output,
Economies of scale
21
cards
Economics topic 7 Competition
What do firms in competitive mark...,
Why do firms in competitive marke...,
Why do firms in competitive marke...
15
cards
Monopolies and Oligopolies
What is a monopoly,
What is a pure monopoly,
What is a natural monopoly
24
cards
Mixed economy
What is the private sector,
What is the public sector,
What are shareholders
31
cards
Demand
What is a market,
What is demand,
What is market demand
20
cards
Supply
What is a market,
What is supply,
What is the law of supply
9
cards
elasticities
What is the formula for ped,
If a good is price elastic how ca...,
What are the factors influencing ped
8
cards
Externalities
What is an externality,
What leads to market failure,
How can the government encourage ...
5
cards
Macroeconomics
What are the 6 economic objectives,
What is economic growth,
What is gross domestic product
11
cards
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Economics
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