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Economics - Theme 3

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

By: Jamie Perritt
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Decks in this class (20)

Sizes & Types of Firms
Why do some firms decide to remai...,
Why do firms decide to grow 5,
How do small firms survive
8  cards
Outsourcing
Outsourcing definition,
Government outsourcing,
Tendering
5  cards
Business Growth
Reasons for business growth5,
Growth strategies3,
Backward vertical integration
14  cards
Mergers & Takeovers
Key drivers for mergers takeovers7,
Why do many mergers fail 4,
Joint ventures
3  cards
Demergers
Demerger definition,
Reasons for demergers4,
Examples of demergers
4  cards
Costs
Fixed costs,
Variable costs,
Total costs
12  cards
Diminishing Returns
Diminishing returns,
Marginal product
2  cards
Revenue
Revenue maximisation,
Revenue synergies,
Average revenue curve u
4  cards
Normal Profits, Supernormal Profits & Losses
Normal profits2,
Normal profit diagram u,
Supernormal profit
8  cards
Efficiency
Efficiency def,
Static efficiency,
Dynamic efficiency
6  cards
Perfect Competition
Conditions of perfect competition7,
Long run equilibrium2,
Evaluation of perfect competition...
5  cards
Monopolistic Competition
Characteristics,
Long run,
Evaluation4
4  cards
Economies & Diseconomies of Scale
Diseconomies of scale3 reasons,
External economies of scale,
Economies of scope
5  cards
Business Objectives
Stakeholders def,
Business objectives4,
Objectives of managers
12  cards
Game Theory
Game theory prisoners dilemma,
Evaluating first mover advantage2...,
Strategic independence
3  cards
Oligopoly
Characteristics of an oligopolist...,
Barriers to entry in oligopolies4...,
Kinked demand curve
8  cards
Monopsony
Monopsony def,
Pros of a monopsony
2  cards
Monopoly
Pros of a monopoly,
Types of monopoly,
Barriers to entry in monopolies
15  cards
Contestability
Characteristics of contestable ma...,
Implications of contestable markets2,
Contestability diagram
4  cards
Government Intervention
Government intervention to contro...,
Government intervention to contro...,
Price regulation u
12  cards

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Economics - Theme 3

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