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economics keyterms

This class was created by Brainscape user matt foulerton. Visit their profile to learn more about the creator.

By: matt foulerton
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Decks in this class (19)

1 - the theory of production
Total costs,
Fixed costs,
Variable costs
21  cards
2 - the objective of firms
Profits,
Total revenue,
Average revenue
30  cards
3 - competitive markets and perfect competition
Homogeneous,
Allocative efficiency,
Optimum output
6  cards
4 - concentrated markets: theory of monopoly
Barriers to entry,
X inefficient,
Patent laws
16  cards
5 - concentrated markets: theory of oligopoly
Oligopoly,
Concentration ratio,
Predatory pricing
24  cards
6 - competition policy and contestable markets
Incumbents,
Contestable market,
Competition policy
19  cards
7 - the labour market: demand and supply
Derived demand,
Theory of marginal productivity,
Marginal revenue product mrp
15  cards
8 - the labour market: wage determination
Economic wealth,
Transfer earnings,
Trade union
10  cards
9 - the distribution of income and wealth
Wealth,
Marketable wealth,
Non marketable wealth
14  cards
10 - government intervention in the market
Market failure,
Productive inefficiency,
Allocative inefficiency
11  cards
11 - economic growth and the economic cycle
Recession,
Economic growth,
Long term growth rate
28  cards
12 - inflation and deflation
Deflation,
Inflation,
Consumer price index cpi
18  cards
13 - unemployment
Natural rate of unemployment,
Frictional unemployment,
Structural unemployment
19  cards
14 - fiscal policy and supply side policy
Direct taxes,
Principles of taxation,
Horizontal equity
30  cards
15 - monetary policy
Liquidity,
Narrow money,
Broad money
14  cards
16 - globalisation
Globalisation,
Semi manufactures,
Absolute advantage
10  cards
17 - the balance of payments
Current account,
Capital account and financial acc...,
Current account defecit
20  cards
18 - exchange rates
Appreciated,
Depreciated,
Exchange controls
11  cards
19 - the European union
The euro,
Single market,
European monetary union
11  cards

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economics keyterms

  • Class purpose General learning

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