This class was created by Brainscape user Hasip _. Visit their profile to learn more about the creator.
By:
Hasip _
- decks
- flashcards
- learners
Decks in this class (57)
3.1.1 - Economic Methodology and the Economic Problem
What does economics study,
What is microeconomics the study of,
What is a positive statement
24
cards
3.1.2 - The Nature and Purpose of Economic Activity
What is a need,
What is a want,
What is welfare
24
cards
3.1.3 - Economic Resources
What is production,
What is a capital good,
What is a consumer good
10
cards
3.1.4 - Scarcity, Choice and the Allocation of Resources
What is scarcity,
What is the fundamental economic ...,
In free market economies what det...
11
cards
3.1.5 - Production Possibility Diagrams
What is the key feature of a ppd,
What are the two types of ppd s,
What does a straight line ppf rep...
21
cards
3.2.1 - Consumer Behaviour
What is utility,
What is marginal utility,
What is the difference between to...
33
cards
3.2.2 - Imperfect Information
What is the distinguishing behind...,
Why may people choose to underspe...,
What is asymmetric information
8
cards
3.2.3 - Aspects of Behavioural Economic Theory
What is behavioural economics,
Where has most of the behavioural...,
Why does the location of study on...
48
cards
3.2.4 - Behavioural Economics and Economic Policy
What is choice architecture,
How and why are choice architectu...,
What is the default choice
18
cards
3.3.1 - The Determinants of Demand
What is a market,
What is a competetive market,
What is ruling market price
29
cards
3.3.2 - Price, Income and Cross Elasticities of Demand
What is elasticity,
Why is elasticity a useful statistic,
What is the price elasticity of d...
24
cards
3.3.3 - The Supply of Goods and Services
What is market supply,
What is the relationship between ...,
What is a market supply curve
20
cards
3.3.4 - Price Elasticity of Supply
What is the price elasticity of s...,
What happens if the supply curve ...,
What is unity
23
cards
3.3.5 - The Determination of Equilibrium Market Prices
How is equilibrium price achieved...,
What is equilibrium,
What is disequilibrium
19
cards
3.3.6 - The Interrelationship Between Markets
What is joint supply,
When is joint supply demonstrated,
If the demand curve for beef shif...
12
cards
3.4.1 - Production
What is production,
What are the factors of production,
What is the productivity gap
18
cards
3.4.2 - Specialisation, Division of Labour and Exchange
What is specialisation,
What is the division of labour,
What did smith establish
17
cards
3.4.3 - The Law of Diminishing Returns and Returns to Scale
What is the short run in microeco...,
How can firms produce more in the...,
What are variable factors
34
cards
3.4.4 - Costs of Production
What does production entale,
What is the short run,
What is the long run
33
cards
3.4.5 - Economies and Diseconomies of Scale
What are economies of scale,
What are diseconomies of scale,
How can a firm benefit from econo...
83
cards
3.4.6 - Marginal, Average and Total Revenue
What is total revenue,
What is average revenue,
What is marginal revenue
48
cards
3.4.7 - Profit
What is profit,
How should people think about a l...,
What is the single assumption mad...
29
cards
3.4.8 - Technological Change
What is technological change,
What does technology focus on,
What are the two distinct meaning...
49
cards
3.5.1 - Market Structures
What is market structure,
What are the important features o...,
What are the features of a perfec...
29
cards
3.5.2 - The Objectives of Firms
What does traditional theory assu...,
What is the equation for total pr...,
What does profit maximisation loo...
38
cards
3.5.3 - Perfect Competition
Why can perfect competition model...,
What did adam smith believe about...,
Why do consumers benefit from ind...
33
cards
3.5.4 - Monopoly and Monopoly Power
What is a monopoly,
Can monopolies make long run supe...,
Why can monopolies make supernorm...
30
cards
3.5.5 - The Advantages and Disadvantages of Monopoly
What are the two main advantages ...,
Why are economies of scale an adv...,
Why
15
cards
3.5.6 - Monopolistic Competition
Why is monopolistic competition p...,
How does monopolistic competition...,
How does monopolistic competition...
35
cards
3.5.7 - Oligopoly
What is an oligopoly,
Where does the word oligopoly com...,
Where does the problem arise with...
49
cards
3.5.8 - Price Discrimination
What is price discrimination,
How are prices set in the main fo...,
How are prices set in second degr...
16
cards
3.5.9 - The Dynamics of Competition and Competitive Market Processes
Traditionally how have economists...,
Why does the economy benefit from...,
How do firms compete in imperfect...
13
cards
3.5.10 - Contestable and Non-Contestable Markets
What is a contestable market,
What are the features of a perfec...,
What is an effective way to reduc...
24
cards
3.5.11 - Market Structure, Static Efficiency, Dynamic Efficiency and Resource Allocation
What is static efficiency,
What types of efficiency can be c...,
What types of firms benefit from ...
8
cards
3.5.12 - Consumer and Producer Surplus
What is consumer surplus,
What is producer surplus,
Where is the producer surplus in ...
35
cards
3.6.1 - The Demand for Labour
What is a factor market,
What type of market is the labour...,
What are the factor markets
37
cards
3.6.2 - Influences on the Supply of Labour to Different Labour Markets
What does the market supply curve...,
Draw a market supply of labour curve,
What are the two factors that det...
25
cards
3.6.3 - Perfectly Competitive Labour Markets
What conditions must a perfectly ...,
Can a perfectly competitive labou...,
What is the closest approximation...
14
cards
3.6.4 - Imperfectly Competitive Labour Markets
What is a monopsony,
What is monopsony power,
What are some examples of monopso...
20
cards
3.6.5 - The Influence of Trade Unions in Determining Wages and Levels of Employment
What is a trade union,
What is collective bargaining,
What is the main function of a tr...
24
cards
3.6.6 - The National Minimum Wage
What is a national minimum wage,
What is the main problem with the...,
What type of markets does the imp...
8
cards
3.6.7 - Discrimination in the Labour Market
What is wage discrimination,
What types of markets can employe...,
Why can employers wage discrimina...
18
cards
3.7.1 - The Distribution of Income and Wealth
What does unregulated market cond...,
What is the distribution of income,
What is the distribution of wealth
53
cards
3.7.2 - The Problem of Poverty
What is poverty,
What is poverty caused by,
A low real national income relati...
20
cards
3.7.3 - Government Policies to Alleviate Poverty and to Influence the Distribution of Income and Wealth
How can poverty increase in a cou...,
How can poverty be undermined,
What do pro free market economist...
32
cards
3.8.1 - How Markets and Prices Allocate Resources
What are the precise functions th...,
What is the signalling function o...,
Give an example of the signalling...
22
cards
3.8.2 - The Meaning of Market Failure
What is market failure,
What is complete market failure,
What is a partial market failure
9
cards
3.8.3 - Private Goods, Public Goods and Quasi-Public Goods
What are private goods,
What is excludability,
What is a rival good
27
cards
3.8.4 - Positive and Negative Externalities in Production and Consumption
What are externalities,
When do externalities exist,
What type of good is an externality
58
cards
3.8.5 - Merit and Demerit Goods
What is a merit good,
Why do merit goods differ from pu...,
What is information failure
24
cards
3.8.6 - Market Imperfections
What is the effect of imperfect a...,
Why might the existance of monopo...,
What is the immobility of labour
5
cards
3.8.7 - Competition Policy
What are the two important factor...,
What is competition policy,
What is the main aim of competiti...
29
cards
3.8.8 - Public Ownership, Privitisation, Regulation and Deregulation of Markets
What is public ownership,
When did the main period of natio...,
How did the labour governments of...
37
cards
3.8.9 - Government Intervention in Markets
How can economists and politician...,
What are the arguments against go...,
What are the arguments for govern...
26
cards
3.8.10 - Government Failure
What is government failure,
Why can government intervention l...,
Why do some people think state pr...
9
cards
Microeconomics Equations
What is the equation for producti...,
What is the equation for ped,
What is the equation for income e...
6
cards
Microeconomics Key Terms Bank
0
cards
More about
H - Econ - 2
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Hasip _'s H - Econ - 2 flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
A Level Economics (AQA)
- 81 decks
- 2253 flashcards
- 128 learners
Decks:
311 Economic Methodology And The Economi, 312 The Nature And Purpose Of Economic A, 313 Economic Resources, And more!
