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Decks in this class (31)
THEME 1 - Topic 1 - The Nature of Economics
Define a model 1,
Why is a model helpful 2,
Define ceteris paribus 3
45
cards
THEME 1 - Topic 2 - The Nature of Demand
What do consumers aim to do 1,
What do producers aim to do 2,
What does marginal cost equal 3
53
cards
THEME 1 - Topic 3 - The Nature of Supply
Define supply 1,
Define a firm 2,
Define the law of supply 3
16
cards
THEME 1 - Topic 4 - Price determination
Define market equilibrium 1,
Define comparative static analysis 2,
Define excess supply 3
8
cards
THEME 1 - Topic 5 - The Price Mechanism in Action
Define an indirect tax 1,
Define a specific tax 2,
Define an ad valorem tax 3
16
cards
THEME 1 - Topic 6 - Market Failure & Externalities
Define market failure 1,
Define productive efficiency 2,
Define allocative efficiency 3
28
cards
THEME 1 - Topic 7 - Public Goods & Information Failure
Define a private good 1,
Define excludable 2,
Define rivalrous 3
14
cards
THEME 1 -Topic 8 - Government Intervention & Government Failure
Define internalising an externali...,
State 4 ways in which the governm...,
What is meant by a green tax 3
21
cards
THEME 2 - Topic 1 - Measures Of Economic Growth
Define macroeconomics 1,
Name 4 macroeconomics indicators 2,
Name 3 sources of economic data 3
22
cards
THEME 2 - Topic 2 - Inflation, U/E & Balance Of Payments
Define inflation 1,
What method is inflation in the u...,
Define a cpi 3
71
cards
THEME 2 - Topic 3 - Aggregate Demand
Name the components of aggregate ...,
Define aggregate demand 2,
What proportion of ad is consumpt...
17
cards
THEME 2 - Topic 4 - Aggregate Supply
Define aggregate supply 1,
Define short run aggregate supply...,
Why does the sras curve slope upw...
13
cards
THEME 2 - Topic 5 - National Income & Macroeconomic Equilibrium
Define the circular flow of incom...,
Explain the 2nd paragraph closed ...,
Explain the 3rd paragraph of desc...
23
cards
THEME 2 - Topic 6 - Economic growth
Define actual economic growth 1,
Define potential economic growth 2,
What type of economic growth is o...
19
cards
THEME 2 - Topic 7 - Macroeconomic Policy Objectives
What are the 6 macroeconomic poli...,
What 2 characteristics should inf...,
What 2 characteristics should eco...
17
cards
THEME 2 - Topic 8 - Macroeconomic Policies
What is fiscal policy also known ...,
Define fiscal policy 2,
What are the 4 forms of governmen...
60
cards
THEME 3 - Topic 1 - Business Growth & Objectives
Define a firm 1,
What are private sector firms 2,
What are state owned firms 3
65
cards
THEME 3 - Topic 2 - Perfect Competition & Monopoly
Define productive efficiency 1,
Define allocative efficiency 2,
Define dynamic efficiency 3
25
cards
THEME 3 - Topic 3 - Monopolistic Competition & Oligopoly
Define monopolistic competition 1,
Give 7 characteristics of monopol...,
Define product differentiation 3
28
cards
THEME 3 - Topic 4 - Pricing Strategies & Contestable Markets
Define cost plus pricing 1,
In what type of product market do...,
Define a price war 3
14
cards
THEME 3 - Topic 5 - Labour Market
Define derived demand 1,
Define marginal revenue product m...,
Define marginal product of labour...
17
cards
THEME 3 - Topic 6 - Government Intervention to Promote Competition
Define competition policy 1,
State and explain 5 functions of ...,
Define a relevant market 3
8
cards
THEME 4 - Topic 1 - Globalisation & Trade
Which economist developed the the...,
Define absolute advantage 2,
Define comparative advantage 3
19
cards
THEME 4 - Topic 2 - Trading Blocs & Restrictions on Trade
What was the percentage growth of...,
What was the actual value of worl...,
What percentage of world trade in...
36
cards
THEME 4 - Topic 3 - Balance of Payments & Exchange Rates
Define the current account of the...,
Name an example of a fixed exchan...,
Define a fixed exchange rate 3
36
cards
THEME 4 - Topic 4 - Poverty & Inequality in Developed & Developing Countries
Define economic development 1,
What type of process is developme...,
What value of gni per capita will...
20
cards
THEME 4 - Topic 5 - Emerging & Developing Economies
Define development edexcel defini...,
Define tiger economies 2,
Define emerging economies 3
32
cards
THEME 4 - Topic 6 - Promoting Growth & Development
Define market orientated strategy 1,
Give 3 examples of market orienta...,
Define interventionist strategy 3
22
cards
THEME 4 - Topic 7 - The Financial Sector
0
cards
THEME 4 - Topic 8 - The Role of the Central Bank
0
cards
THEME 4 - Topic 9 - The Role of the State in the Macroeconomy
0
cards
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