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Decks in this class (18)
topic 1: economic methodology and the economic problem
What is ceteris paribus 1,
What are positive statements 2,
What are normative statements 3
21
cards
topic 2 : individual economic decision making
A consumers utility is 1,
Marginal utility is the 2,
Why is the demand curve downward ...
32
cards
topic 3 : price determination in a competitive market
What does the demand curve illust...,
What are the two main theories th...,
What are substitute goods 3
44
cards
topic 4 production costs and revenue
Productivity is calculated by 1,
Being more productive means 2,
Being less productive means 3
64
cards
topic 5: perfect competition, imperfectly competitive markets and monopoly
Each market structure is categori...,
Examples of barriers to entry 2,
Profit is the difference between 3
110
cards
topic 6 : the labour market
The labour market what type of ma...,
What is a factor market 2,
What type of demand is the demand...
70
cards
topic 7: distribution of income and wealth, poverty and inequality
Income 1,
Wealth 2,
Factors affecting the distributio...
23
cards
topic8: market mechanism, market failure and government intervention in markets
What does the price mechanism det...,
3 main functions to allocate reso...,
Advantages of price mechanism 3
68
cards
macro topic1 : measurement of macroeconomic performance
The government has four main macr...,
Additional macro economic objecti...,
Potential conflicts and trade off...
30
cards
macro topic 2: how the macroeconomy works, circular flow of incomr, AD - AS analysis
National income 1,
Circular flow of income represents 2,
Withdrawals of income 3
54
cards
macro topic 3 economic performance
When does an output gap occur 1,
A negative output gap occurs when 2,
A positive output gap occurs when 3
67
cards
macro topic 4 financial markets and monetary policy
Characteristics and functions of ...,
Near money 2,
The money supply is 3
56
cards
macro topic 5 : fiscal and supply side policies
Fiscal policy involves the use of 1,
Fiscal policy instruments 2,
What does fiscal policy aim to st...
61
cards
macro topic 6: the international economy
Globalisation 1,
Characteristics of globalisation 2,
Mncs 3
135
cards
macro key terms
Balance of payments 1,
Current account 2,
Economic cycle 3
401
cards
micro key terms
Behavioural economics 1,
Ceteris paribus 2,
Economic assumptions 3
386
cards
micro economics equations
Marginal utility 1,
Price elasticity of demand ped 2,
Income elasticity of demand yed 3
63
cards
macro economics equations
Real gdp 1,
Gdp per capita 2,
Multiplier 3
31
cards
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Economics
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