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joal l
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Decks in this class (35)
1.1 Scarcity, Choice And Opportunity Cost
Meaning of scarcity 1,
Meaning of needs 2,
Meaning of wants 3
4
cards
1.2 Economic Methodology
What is economics 1,
Meaning of microeconomics 2,
Meaning of macroeconomics 3
6
cards
1.3 Factors Of Production
4 factors of production 1,
Meaning and reward of land 2,
Meaning and reward of labour 3
8
cards
1.4.1 Market Economy
Meaning of economic system 1,
Meaning of market economy 2,
Meaning of price mechanism 3
8
cards
1.4.2 Planned Economy
Meaning of planned economy 1,
Characteristics of planned economy 2,
Advantages of planned economy 3
5
cards
1.4.3 Mixed Economy
Meaning of mixed economy 1,
Characteristics of mixed economy 2,
Advantages of mixed economy 3
4
cards
1.4.4 Transition Process
Meaning of transition economies 1,
The transition process 2,
Difficulties faced by transition ...
3
cards
1.5 Production Possibility Curve
Definition of ppc 1,
Causes of a shift of ppc to the r...
2
cards
1.6 Classification Of Goods And Servces
Definition of free goods 1,
Private goods 2,
Public goods 3
7
cards
2.1 Demand And Supply
Definition of demand 1,
Individual demand 2,
Market demand 3
7
cards
2.2 Price Elasticity Of Demand
Price elasticity of demand 1,
Types of responses towards ped 2,
Determinants of ped 3
5
cards
2.2 Income Elasticity Of Demand
Income elasticity of demand yed 1,
Type of responses 2,
Application of yed 3
7
cards
Cross Elasticity Of Demand
Cross elasticity of demand xed 1,
Application of xed producer 2,
Application of xed government 3
4
cards
Price Elasticity Of Supply
Meaning of price elasticity of su...,
Determinants of pes 2,
Application of pes 3
4
cards
2.5c Consumer And Producer Surplus
Consumer surplus meaning 1,
Producer surplus meaning 2,
Essay evaluation how variation of...
3
cards
3.1 & 3.2 Reason And Methods For Government Intervention
Reason for government intervention 1,
How government intervene the mark...,
Types of indirect taxes 3
9
cards
3.2.2 Subsides
Meaning of subsidies 1,
Reason for subsidies 2,
What happens after subsidy 3
6
cards
3.3.1 Maximum Price
Meaning of price controls 1,
What s is price ceiling maximum p...,
Consequences of maximum price 3
5
cards
3.3.2 Minimum Price
What is a price floor 1,
Reasons for minimum price 2,
Consequences of agricultural pric...
4
cards
3.3 Buffer Stock Schemes
Definition of buffer stock schemes 1,
Buffer stocks aims to 2,
Buffer stocks stabilise prices re...
6
cards
3.4 Direct Provision Of Goods And Services And Provision Of Iinformation
What is direct provision of goods...,
What is the aim of it 2,
Nationalisation 3
9
cards
3.3. Privatisation
Definition of privatisation 1,
Advantages of privatisation 2,
Disadvantages of privatisation 3
3
cards
4.1 National Income Statistics
What is national income 1,
Gross domestic product gdp 2,
Methods of measuring gdp 3
5
cards
4.2 Introduction To Circular Flow Of Income
Meaning of the circular flow of i...,
Leakages withdrawals 2,
Injections 3
3
cards
Agregate Demand
Meaning of aggregate demand 1,
Components of ad 2,
The wealth effect of ad graph vic...
10
cards
Aggregate Supply
What is aggregate supply 1,
Sras are caused factored by cost ...,
There are 2 different school of t...
5
cards
4.4 Economic Grpwth
What is economic growth 1,
How is economic growth measured 2,
What does gdp represents 3
27
cards
4.5.1 Cpi
What is inflation 1,
What does inflation indicate 2,
What is the rate of inflation 3
20
cards
Deflation
What is deflation 1,
When does deflation occur 2,
What factors can cause deflation 3
46
cards
Unemploment
Meaning of employment 1,
Meaning of unemployment 2,
Frictional unemployment 3
12
cards
5.1 Fiscal Policy
Definition of fiscal policy 1,
Expansionary fiscal policy 2,
Contractionary fiscal policy 3
6
cards
5.3 Monetary policy
Definition of monetary policy 1,
Tools of monetary policy 2,
Reduce interest rate vice versa 3
8
cards
Supplly Side Polocy
Interventionist supply side policy 1,
To improve quality of fop 2,
Increase in quantity of factors o...
9
cards
6.q Reason For International Trade
Definition of international trade 1,
Gains from international trade 2,
Absolute advantage 3
7
cards
Protectionism
Definition of protectionism 1,
Types of trade protection 2,
Definition of tariff 3
9
cards
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