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Economics:THEME THREE

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

By: Sharnika Sivakaran
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Decks in this class (17)

size and types of firms (L1)
Reasons why firms seek growth,
Market power,
Diversification
13  cards
business growth (L2)
How is gaining market share helpful,
Internal organic growth,
Limits of organic growth
21  cards
costs and revenues (L3)
What factor is fixed and what fac...,
How is the short run defined,
How is the long run defined
21  cards
economies and diseconomies of scale (L4)
Constant returns to scale,
Increasing returns to scale,
Decreasing returns to scale
19  cards
profit and loss + business objectives (L5 + L6)
Profit,
Normal profit,
Economists pov of profit
24  cards
efficiency (L7)
Productive efficiency,
Allocative efficiency,
X inefficiency
9  cards
market structures, perfect competition (L8)
Assumptions in the model of perfe...,
Is a firm in perfect competition ...,
What type of demand would firms f...
6  cards
demand and supply for labour (L9)
Firm,
Derived demand,
Factors that can shift the demand...
16  cards
monopoly (L10)
Monopoly,
Name the official body in the uk ...,
Assumptions of the monopoly model
8  cards
monopolistic competition characteristics (L11)
Characteristics of monopolistic c...,
Who devised the theory of monopol...,
3 important characteristics of th...
16  cards
labour market issues (L12)
Zero hour contract,
Percentage of people employed on ...,
Why are zero hour contracts consi...
10  cards
oligopoly (L13)
How can you look at how close a p...,
How is concentration measured,
In what ways can concentration be...
30  cards
contestability (L14)
Factors needed for a market to be...,
Sunk costs,
Incumbent market
10  cards
monopsony (L15)
Monoposony,
What does it mean if a producer h...,
Why would it be advantageous for ...
9  cards
monopolies, mergers (L16)
Downsides of monopoly power,
Anti competitive practices,
Cma
18  cards
competition,protecting suppliers & workers (L17)
Sme,
Start up,
Benefits of small businesses and ...
18  cards
limits to government intervention (L18)
Regulatory capture,
Causes of regulatory capture,
Bribery
11  cards

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Economics:THEME THREE

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