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K C
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Decks in this class (20)
LS1 - The Economics Problem
Difference between goods and serv...,
Factors of production 2,
Three questions for what to produ...
4
cards
LS2 - Economics as a Social Science
Ceteris paribus 1
1
cards
LS3 - Production Possibility Frontier
Opportunity cost 1,
Ppf 2,
Economic growth 3
5
cards
LS4 -Positive and Normative Economics
Positive economic statements 1,
Normative economic statements 2,
Governments when making economic ...
4
cards
LS5 - Specialisation and the Division of Labour
Specialisation 1,
Division of labour 2,
Productivity 3
5
cards
LS6 - Types of Economy
Planning 1,
Three types of economy 2,
The price mechanism 3
8
cards
LS7 - Decision Making In Economics
Deduction 1,
Induction 2,
How do firms make rational decisi...
6
cards
LS8 and LS9 - Demand and Supply
Demand 1,
Public and private sector and the...,
Movements on a demand curve 3
8
cards
LS10
Excess demand 1,
Excess supply 2,
Equilibrium price 3
12
cards
LS11
Direct tax 1,
Indirect tax 2,
Specific tax 3
10
cards
LS12 and 13
Price elasticity of demand 1,
Elastic demand 2,
Inelastic demand 3
10
cards
LS17 - Market Failure & Externality
Market failure 1,
External cost 2,
External benefit 3
4
cards
LS18 - Public Goods
Non rivalrous 1,
Non excludable 2,
Private goods 3
10
cards
LS19 - Information Gaps
Perfect informwtion 1,
Symmetric information 2,
Imperfect information 3
6
cards
LS20
Maximum prices 1,
Minimum price 2,
Advantages of minimum pricing 3
12
cards
LS21
Pollution permits 1,
Why might firms want to produce l...,
Blank 3
3
cards
LS14 - Diminishing Marginal Utility
Diminishing marginal utility 1,
Marginal utility 2,
Blank 3
3
cards
LS15 XED & YED
Xed 1,
Xed formula 2,
Substitute goods 3
13
cards
LS 22 - Regulation
Command 1,
Control 2,
Blank 3
3
cards
LS23 - Government Failure
Government failure 1,
Causes of government failure 2,
Blank 3
4
cards
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Economics AS Level (Micro)
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