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Decks in this class (40)
Economic Growth & Economic Cycle - Macro
What is short run economic growth 1,
What is long run economic growth 2,
What is an output gap 3
55
cards
Economic Methology And The Economic Problem - Micro
What do ppf graphs show 1,
What limited resources do ppfs he...,
What do all the points on the bou...
23
cards
The Circular Flow Of Income- Macro
What is national income 1,
What is real gdp 2,
What is gnp 3
18
cards
Markets- Micro
What is a free market economy 1,
What two sectors are mixed econom...,
How are goods and services alloca...
14
cards
Consumer Behaviour - Micro
What is individual economic decis...,
What is being rational 2,
How can consumers act rationally 3
12
cards
Demand And Supply - Micro
What is demand 1,
What does the law of demand state 2,
What are the 12 factors of demand 3
14
cards
Unemployment - Macro
What is unemployment 1,
What are the two main methods use...,
What does the claimant count do 3
24
cards
Price Elasticty Of Demand
What does ped measure 1,
What is elastic demand 2,
What is inelastic demand 3
9
cards
Income Elasticity Of Demand
What does income elasticity of de...,
What is a normal good 2,
What is an inferior good 3
13
cards
Cross Elasticity Of Demand
What does xed measure 1,
What is the formula for xed 2,
What are the three types of xed r...
11
cards
Price Elasticity Of Supply
What is price elasticity of supply 1,
How do you calculate price elasti...,
What does it mean in real terms w...
5
cards
Inflation
What is inflation 1,
What is deflation 2,
What is disinflation 3
30
cards
The Mechanism And Market Failure - Micro (keywords)
Define free market economies 1,
Define command economies 2,
Define mixed economies 3
19
cards
Externalities: Market Failure - Micro
Define externalities 1,
Which curve shifts when there are...,
Which curve shifts when there are...
10
cards
Fiscal Policy
Define fiscal policy 1,
Define the budget deficit 2,
Define the budget surplus 3
54
cards
Supply Side Policy
Outline the aim of supply side po...,
Define a policy 2,
When does improvement occur 3
9
cards
UK Market Failure Stats
Define obesity 1,
What percentage of all 10 11 year...,
What percentage of all adults are...
14
cards
Government Intervention & Failure
Define ad velourm tax 1,
What policies can be used to comb...,
Define stamp duty 3
21
cards
Monetary Policy
Define monetary policy 1,
Define the transmission mechanism 2,
Outline the effects of an increas...
24
cards
Aggregate Demand
Define ad 1,
Define the wealth effect 2,
Define the trade effect 3
24
cards
AS + Macroeconomic Equilibrium
In the classical model of as what...,
Define supply side shocks 2,
Outline the factors that cause sr...
16
cards
Monetary Policy
Define monetary policy 1,
Outline examples of monetary poli...,
What is the uk central bank 3
16
cards
Money & Financial Markets
Outline the characteristics of mo...,
Outline the functions of money 2,
What does m0 consist of 3
28
cards
Bonds
Define a bond 1,
Define a debtor 2,
Define a creditor 3
13
cards
Behavioural Economics
What does traditional economics a...,
What does behavioural economics a...,
What causes individuals to be unl...
25
cards
Theory Of The Firm - Micro
Define fixed costs and draw the g...,
Define variable costs and draw th...,
Define total costs and draw the g...
19
cards
Production, Cost (SR&LR), Revenue, Profit
Define production 1,
Define productivity 2,
Define specialisation and divisio...
23
cards
Keynesian vs Monetarist/Classical Policies
Give an overview of keynesian mac...,
Outline what the multiplier effec...,
Define the marginal propensity to...
6
cards
Trade & Comparative Advantage
Define absolute advantage 1,
Define comparative advantage 2,
Define free trade 3
18
cards
Efficiency
Define static efficiency 1,
Define allocative efficiency and ...,
Define productive efficiency and ...
6
cards
Competitive Markets And Monopoly
Outline the characteristics of a ...,
Define monopoly power 2,
What factors help maintain monopo...
11
cards
The International Economy
Define globalisation 1,
Outline the causes of globalisati...,
Outline the consequences of globa...
53
cards
Oligopolies
Outline the characteristics of an...,
Define a concentration ratio 2,
Define collusion 3
12
cards
Monopoly
Define a monopoly 1,
Outline the diagram of a monopoly...,
Outline the advantages of a monop...
6
cards
Price Discrimination
Define price discrimination 1,
Outline the conditions for price ...,
Define first degree price discrim...
10
cards
The Objectives Of Firms
Outline what the rational busines...,
Outline reasons why firms want to...,
How do firms achieve profit maxim...
8
cards
Perfect Competition
Outline the characteristics of pe...,
Outline the diagrams for an indiv...,
How can a firm in perfect competi...
14
cards
Monopolistic Competition
Define a monopolistic market stru...,
Outline the characteristics of mo...,
Outline the diagram of short run ...
6
cards
Labour Markets
Outline what the labour market is...,
Define a derived demand 2,
What are wage rates determined by 3
12
cards
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Economics
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