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m q
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Decks in this class (14)
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
24
cards
Macroeconomic policies and conflict of objectives
What are monetary policies,
What is expansionary monetary policy,
What is contractionary monetary p...
13
cards
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Economics
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