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By:
Max Charlwood
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Decks in this class (41)
Economics as a Social Science
What does ceteris paribus mean 1,
What is an economic model 2,
What is economics 3
3
cards
Positive and Normative Statements
What are positive statements 1,
What are three examples of a posi...,
What are normative statements 3
6
cards
The Economic Problem
Who are economic agents 3 1,
What are finite resources 2,
What are economic goods 3
9
cards
Production Possibility Frontiers
What do ppfs show 1,
What does the ppf curve compare 1,
If a point lies on the ppf curve ...
14
cards
Specialisation and the Division of labour
Who brought about the concepts of...,
What is specialisation 2,
What is the division of labour 3
8
cards
The Functions of Money
What are the 5 functions of money 1,
What is the most liquid asset 2,
What is liquidity 3
5
cards
Types of Economies
What are the 3 types of economies 1,
What is a free market economy 2,
What are the 3 features of a free...
18
cards
Rational Decision Making
What is meant by rational decisio...,
What factors fall under economic ...,
What will consumers look to maxim...
6
cards
Demand
What is demand 1,
What causes an extension in demand 2,
What causes a contraction in dema...
12
cards
Elasticities of Demand
What is elasticity 1,
What is price elasticity of deman...,
What does ped stand for 3
42
cards
Supply
What is supply 1,
What does the supply curve show 2,
What causes an extension of suppl...
11
cards
Elasticities of Supply
What is price elasticity of supply 1,
What is pes 2,
What is the formula for pes 3
21
cards
Price Determination
What is the market price 1,
What is the equilibrium or market...,
Where is the equilibrium price on...
5
cards
The Price Mechanism
What is the price mechanism 1,
What are the three functions of t...,
How does the rationing function w...
11
cards
Consumer and Producer Surpluses
What is a surplus 1,
What is a consumer surplus 2,
Where is the consumer surplus on ...
5
cards
Indirect Taxes and Subsidies
What is an indirect tax 1,
What are the two types indirect t...,
What is an ad valorem tax 3
40
cards
Consumer Behaviour
How can the behaviour of other pe...,
How can habits influence consumer...,
How can consumer weakness at comp...
3
cards
Market Failure
What is the cause of market failu...,
What are the three reasons for ma...
2
cards
Externalities
When are externalities created 1,
What are the two types of externa...,
What are the two types of negativ...
33
cards
Public Goods
What are the two characteristics ...,
What is a public good and what ar...,
What are 3 examples of private go...
6
cards
Information Gaps
What is symmetric information 1,
What is asymmetric information 2,
What is an information gap 3
7
cards
Government Intervention
What are the 5 ways governments c...,
Why do governments intervene in m...,
What are the 2 potential benefits...
20
cards
Government Failure
What is government failure 1,
What are the 5 potential reasons ...,
What are the 5 influences on gove...
11
cards
Growth and types of Firms
What are the 5 main reasons for f...,
What is the divorce of ownership ...,
What is the principle agent probl...
31
cards
Demergers
What is a demerger 1,
What are 8 reasons why a firm may...,
What are 4 benefits of a demerger...
7
cards
Revenue
What is revenue 1,
What are the 3 types of revenue i...,
What is total revenue tr 3
15
cards
Costs
What two types of costs do firms ...,
What are costs of production 2,
What are fixed costs 3
24
cards
Economies and Diseconomies of Scale
What are economies of scale 1,
What are the two types of economi...,
What are internal economies of sc...
17
cards
Profit and Loss
What is profit 1,
What is the formula for profit 2,
What is normal profit 3
11
cards
Business Objectives
What are the 4 possible business ...,
What are stakeholders 2,
What are the 6 groups who make up...
14
cards
Efficiency
What is productive efficiency 1,
What is economic efficiency 1,
What is technical efficiency 2
9
cards
Perfect Competition
Rank the 4 types of competition i...,
What is perfect competition and w...,
What are the 5 characteristics of...
7
cards
Monopolistic Competition
What is monopolistic competition 3 1,
What is the point of normal profit 2,
What is the point of supernormal ...
5
cards
Oligopoly
What are the 4 characteristics of...,
What is the concentration ratio 2,
What is the formula for the conce...
21
cards
Monopolies
What does the uk define as a mono...,
What is a pure monopoly 2,
What are the 3 characteristics of...
9
cards
Monopsony
What is a monopsony 1,
What are the 3 characteristics of...,
How does price and quantity suppl...
11
cards
Contestability
What is contestability in microec...,
What are the characteristics of a...,
What are the 5 assumptions behind...
9
cards
Demand for Labour
What is marginal physical product...,
What is marginal revenue product ...,
What is productivity 3
8
cards
Supply of Labour
What is the supply of labour 1,
What are the 7 factors influencin...,
How can pecuniary factors influen...
24
cards
Wage Determination
What type of workers can command ...,
What are the two main reasons for...,
In perfectly competitive labour m...
14
cards
Government Intervention (2)
What are 4 ways in which a govern...,
How does price regulation control...,
How does profit regulation contro...
20
cards
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Microeconomics
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A Level Economics
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Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
