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Economics topic by topic theme 1 - 4

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

By: Chris Young
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Decks in this class (12)

1.1 The Economic Problem
Define scarcity,
What is the result of humans havi...,
Define the economic problem
20  cards
1.2 Enterprise, Business and the Economy
Define creative destruction,
Define entrepreneur,
Define innovation
30  cards
1.3 Introducing the market
Define demand,
Name 5 factors that influence demand,
How do substitutes influence demand
44  cards
1.4 The Role of Banks in the Economy
Define the term bank,
Define financial intermediary,
How do banks enhance the economy
51  cards
1.5 Market Failure and Government Intervention
Define external cost,
Define private cost,
Define social cost
22  cards
1.6 Revenue, Costs, Profits and Cash
Whats the formula for sales revenue,
Whats the formula for total costs,
Whats the formula for profit
36  cards
4.1 Competition and Market Power
What is the the spectrum of compe...,
Define market structure,
What is perfect competition
69  cards
4.2 Market Power and Market Failure
Draw the graph for a positive ext...,
Draw the graph for a negative ext...,
Define market failre
22  cards
4.3 Market Failure Across the Economy
Define public good,
Define non excludable,
Define merit good
20  cards
4.4 Macroeconomic Policy and impact on firms and individuals
What is the largest component of ad,
Define aggregate supply,
Give 4 things that increase long ...
62  cards
4.5 Risk in the Financial Sector
Define shock,
Define uncertainty,
Define risk
56  cards
1.1 The Economic Problem
Define scarcity,
What is the result of humans havi...,
Define the economic problem
20  cards

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Economics topic by topic theme 1 - 4

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