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Decks in this class (24)
1.1 scarcity choice and potential conflicts
Scarcity 1,
Trade off 2,
Opportunity cost 3
11
cards
1.2 enterprise business + the economy
Creative destruction 1,
Role of entreprenuer 2,
Added value 3
7
cards
1.3 introducing market
Consumer sovereignty 1,
Demand 2,
Law of demand 3
39
cards
1.4 role of credit in economy
Owners equity 1,
Retained profit 2,
Sale of assets 3
10
cards
1.5 market failure & government intervention
Purposes of intervention 1,
Under consumption 2,
Over consumption 3
16
cards
1.6 revenue, costs, profit, and cash
Fixed costs 1,
Variable costs 2,
Total costs 3
21
cards
2.1 business growth and competitive advantage
Growth 1,
Objectives of growth 2,
Economy of scale 3
26
cards
2.2 firms consumers and elasticities of demand
Law of demand 1,
Ped 2,
Ped formula 3
21
cards
2.3 productive efficiency
Productivity 1,
Factors influencing productivity 2,
Increasing productivity 3
18
cards
2.4 globalisation
Characteristics of globalisation 1,
Factors contributing in last 50 y...,
Indicators of growth factors of s...
24
cards
2.5 the economic cycle
Economic cycle 1,
Withdrawals 2,
Injections 3
28
cards
2.6 intro to macroeconomic objectives
Macroeconomic objectives 1,
Four targets for uk 2,
Balance of payments 3
17
cards
4.1 spectrum of competition
Monopoly 1,
Monopoly characteristics 2,
Pure monopoly 3
25
cards
4.2 market power and failure
Disadvantages of market power abu...,
Collusion 2,
Restrictive practices 3
11
cards
3.2 economic factors in business expansion
Push factors 1,
Saturated market 2
2
cards
4.3 market failure across the economy
Market failure 1,
Geographical immobility 2,
Occupational immobility 3
13
cards
4.5 risk and the financial sector
Risk 1,
Examples of risk 2,
Uncertainty 3
21
cards
4.4 macroeconomic policies and impact on firms and individuals
Ad components 1,
Influences on consumer spending 2,
Influences on investment 3
23
cards
3.1 globalisation
Economic power 1,
Factors influencing economic power 2,
Economic growth 3
38
cards
3.2 conditions that prompt trade
Push factor definition 1,
Push factors 2,
Pull factors definition 3
12
cards
3.3 impact of globalisation on global companies
Globalisation 1,
Glocalisation 2,
Ethnocentric 3
16
cards
3.4 impact of globalisation on local and national economies
Impact of mnc s on local economy 1,
Impact of mnc s on national econo...,
Transfer pricing 3
9
cards
3.5 global labour markets
Employment patterns definition 1,
Types of unemployment patterns 2,
Factors affecting growth of labou...
12
cards
3.6 inequality and redistribution
Absolute poverty 1,
Relative poverty 2,
Measures of absolute poverty 3
32
cards
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