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Sam Heron
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Decks in this class (21)
1.1 Sizes & types of Firms
Types of firms 1,
How do small firms survive 2,
Key reasons to stay small 3
5
cards
1.2 Business Growth
Types of business growth 1,
How can organic growth be achieved 2,
Benefits of organic growth 3
15
cards
1.3 De-Mergers
Reasons for de mergers 1,
Examples of de mergers 2,
Impact on stakeholders 3
3
cards
2.1 Business Objectives
Reasons for different objectives 1,
Where on the diagram is profit ma...,
Benefits from profit maximisation 3
11
cards
3.1 Revenue
What is average revenue 1,
What is marginal revenue 2,
What is ped when mr 0 3
7
cards
3.2 Costs
Production costs in the short run 1,
Production costs in the long run 2,
What are fixed costs 3
8
cards
3.3 Economies & Diseconomies of Scale
What are returns to scale 1,
What are increasing returns to sc...,
What are decreasing returns to sc...
14
cards
3.4 Normal/ Supernormal Profits & Losses
What is normal profit 1,
What does normal profit reflect 2,
What is supernormal profit 3
7
cards
4.1 Economic Efficiency
What is economic efficiency 1,
Types of efficiency 2,
What is productive efficiency 3
12
cards
4.2 Perfect Competition
Key assumptions 1,
Can supernormal profit be made in...,
Economic efficiencies 3
6
cards
4.3 Monopolistic Competiton
Key assumptions 1,
Examples of firms 2,
Economic efficiencies 3
3
cards
4.4 Oligopoly
Key assumptions 1,
Examples of firms 2,
What is the concentration ratio 3
13
cards
4.5 Monopoly
Key assumptions 1,
What is a working monopoly 2,
What is a dominant firm 3
16
cards
4.6 Monopsony
What is a monopsony 1,
Examples of firms 2,
Benefits of a monopsony 3
4
cards
4.7 Contestability
Characteristics of contestable ma...,
Impact on firm behaviour 2,
Key point 3
4
cards
UK Key Labour Market Statistics
How many are economically inactive 1,
Median age 2,
Nmw 3
8
cards
5.1 Demand for Labour
Causes of shifts in demand 1,
What is derived demand for labour 2,
Labour elasticity of demand depen...
4
cards
5.2 Supply of Labour
What is supply of labour 1,
Factors affecting labour supply 2,
What is elasticity of labour supp...
9
cards
5.3 Wage Determination
What is the equilibrium wage rate 1,
Causes of wage differentials betw...,
What is the gig economy 3
17
cards
6.1 Government Intervention
Main aims of competition policy 1,
Govt intervention to control merg...,
Examples of merger policy action 3
17
cards
6.2 Impact of Government Intervention
Arguments for a price cap 1,
Arguments against a price cap 2,
Judging effectiveness of regulati...
3
cards
More about
Economics Theme 3
- Class purpose General learning
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