This class was created by Brainscape user Riley Southgate. Visit their profile to learn more about the creator.
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Riley Southgate
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Decks in this class (13)
1.1 - Nature of economics
Define the term ceteris peribus,
What is a positive economic state...,
What is a normative economic stat...
38
cards
1.2 - How markets work
How do consumers act rationally,
How do producers act rationally,
What is demand
81
cards
1.3 - Market failure
What is the definition of market ...,
Why does market failure occur,
What are the 3 market failures co...
27
cards
1.4 - Government intervention
What are indirect taxes,
In which direction do indirect ta...,
What may indirect indirect taxes ...
25
cards
2.1 - Measures of economic performance
What is economic growth,
What is gross domestic product gdp,
What does the term real mean
61
cards
2.2 - Aggregate demand
What is the definition of aggrega...,
What are the components of ad,
What proportion of ad is made up ...
18
cards
2.3 - Aggregate supply
What is aggregate supply as,
What is the shape of the as curve,
What causes movement along an as ...
10
cards
2.4 - National income, output and expenditure
What is national income,
What is the circular flow of income,
What is the difference between we...
24
cards
2.5 - Economic growth
What is actual economic growth,
What is potential economic growth,
What are the 2 factors that could...
22
cards
2.6 - Macroeconomic objectives and policies
What are the 7 macroeconomic obje...,
Which are the main 4 macroeconomi...,
What is a demand side policy
35
cards
3.1 Business growth
What is a firm,
What are economies of scale,
What are 4 reasons why firms rema...
30
cards
3.2 Business objectives
0
cards
3.3 Revenues, costs and profits
What is a price maker setter,
What is a price taker,
What is total revenue
44
cards
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Economics
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