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L S
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Decks in this class (29)
Chapter 1 - The economic problem and opportunity cost
What is scarcity 1,
What are economic goods 2,
What are free goods 3
24
cards
Chapter 2 - The allocation of resources, specialisation and trade
What is resource allocation 1,
What is a market economy 2,
What is a centrally planned econo...
20
cards
Chapter 3 - Demand
What is demand 1,
What are the factors that influen...,
What is market demand 3
18
cards
Chapter 4 - Supply
What is a competitive market 1,
What are the factors that influen...,
What would happen to supply if pr...
13
cards
Chapter 5 - The interaction of markets
What is market equilibrium 1,
What is excess supply 2,
What is excess demand 3
9
cards
Chapter 6 - Elasticity
What does elasticity mean 1,
What is the price elasticity of d...,
What does elastic mean 3
24
cards
Chapter 7 - Prices, resource allocation and concept of the margin
What is marginal principle 1,
What is rational decision making 2,
What assumption is made about the...
14
cards
Chapter 8 - Market failure and externalities
What is market failure 1,
What is marginal social benefit m...,
What is marginal social cost msc 3
19
cards
Chapter 9 - Market failure: information failure and public goods
What is asymmetric information 1,
How does asymmetric information a...,
How does asymmetric information a...
22
cards
Chapter 10 - Government intervention and government failure
What is indirect tax 1,
What is direct tax 2,
Who pays the tax that is put on g...
31
cards
Chapter 11 - Costs, economies of scale, revenue and profit
What is a firm business 1,
What does short run mean 2,
What does long run mean 3
43
cards
Chapter 12 - Objectives of business
At what level will profits be max...,
What is the principal agent probl...,
What causes the principal agent p...
21
cards
Chapter 13 - Market Structure: Perfect Competition
What is market structure 1,
What is the summary of perfect co...,
What is the summary of monopoly 3
22
cards
Chapter 14 - Market structure: Monopoly
What is a monopoly 1,
What are the assumptions for a mo...,
What are the barriers to entry of...
37
cards
Chapter 15 - Monopolistic competition, Oligopoly and contestable markets
What is monopolistic competition 1,
What are the characteristics of m...,
What is product differentiation 3
34
cards
Chapter 16 - The Demand for Labour
What is derived demand 1,
What is the marginal revenue prod...,
What is the marginal revenue prod...
10
cards
Chapter 17 - The supply of labour
Why is the labour supply curve un...,
What is the effect of the wage ra...,
How does individual labour supply...
17
cards
Chapter 18 - The interaction of labour markets
How does labour market equilibriu...,
How does an increase in demand fo...,
How does an increase in supply of...
25
cards
Chapter 19 - The circular flow of income and aggregate demand
What is the circular flow of inco...,
How does the circular flow of inc...,
What is meant by a leakage 3
22
cards
Chapter 20 - Aggregate supply and the interaction of aggregate demand and supply
How does short run aggregate supp...,
What must firms take in the short...,
How does cost of inputs affect sr...
20
cards
Chapter 21 - The multiplier and the accelerator
What is a multiplier 1,
How does the multiplier work 2,
What does the size of the multipl...
20
cards
Chapter 22 - Economic Growth
What is long run economic growth 1,
What is short run economic growth 2,
What is the policy objective of e...
28
cards
Chapter 23 - Development
What is development 1,
What is the primary sector 2,
What is the secondary sector 3
19
cards
Chapter 24 - Employment
What does in employment mean 1,
What does economically inactive m...,
What does discouraged workers mean 3
22
cards
Chapter 25 - Inflation
What is inflation 1,
What is a index number 2,
How do we calculate index number 3
21
cards
Chapter 26 - The balance of payments
What is balance of payments 1,
What is current account of the ba...,
What is financial account of the ...
13
cards
Chapter 27 - Exchange rates
What is the exchange rate 1,
How does exchange rate work 2,
What is a fixed exchange rate sys...
22
cards
Chapter 29 - Income distribution and welfare
What is income 1,
What is wealth 2,
What is income distribution 3
19
cards
Chapter 30 - Fiscal policy
0
cards
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Economics
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