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Megan Beasley
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Decks in this class (36)
The Nature And Purpose Of Economic Activity
What is the purpose of economic a...,
What do consumer wants and needs ...,
What are the 4 factors of production
3
cards
The Basic Economic Problem
Resources are ____ but wants and ...,
There is scarcity so we must,
What is an opportunity cost
6
cards
PPFs
What do ppfs show,
How are opportunity costs shown i...,
How does the ppf shift
3
cards
Demand
What is demand,
What does the demand curve show,
What are some of the factors that...
3
cards
Elasticity Of Demand
What is cross price elasticity of...,
How is xped impacted by substitutes,
How does complementary product im...
20
cards
Supply
What is supply,
What does the supply curve show,
What are some the factors that ca...
3
cards
Elasticity Of Supply
What is price elasticity of supply,
What is the equation for pes,
What does perfectly inelastic mean
10
cards
Functions Of Price Mechanism
What is the signalling function,
What is the rationing function,
What is the incentive function
3
cards
Interrelated Markets
What is joint demand,
What is demand for substitute goods,
What is composite demand
5
cards
Production, Cost And Revenue
What is production,
What is productivity,
What is the equation for producti...
16
cards
Economies Of Scale
What are internal economies of scale,
What are external economies of scale,
What are diseconomies of scale
3
cards
Market Structures
What is each market structure cha...,
What s the main objective of firms,
Why is survival another objective...
5
cards
Market Failure
What is market failure,
What are the types of market fail...,
What are public goods
18
cards
Government Interventions
How do govs use regulation to pre...,
What some evaluation of regulation,
How do govs use subsidies to
14
cards
Government Failure
What is government failure,
How is unintended consequences a ...,
How is information gaps a cause o...
5
cards
Costs
What is the short run,
What is the long run,
Are the factors of production var...
12
cards
Profit
What is the formula to calculate ...,
What are normal profits,
What are supernormal profits
6
cards
Revenue
0
cards
Behaviour Economics
What does traditional economics a...,
What does behavioural economics d...,
Behaviour economics focuses on th...
19
cards
Poverty
What is absolute poverty,
What is relative poverty,
What are some of the causes of po...
6
cards
Inequality
What are sources of wealth,
What are the three ways to measur...,
What s the lorenz curve
11
cards
Supply And Demand For Labour
What is the supply of labour,
What does the supply of labour cu...,
What are some factors that can in...
16
cards
Trade Unions
What is a trade union,
What are the aims of a trade union,
What is collective bargaining
13
cards
Monopsony
What is a monopsony labour market,
When will the employer hire extra...,
Is a monopsony a price taker
5
cards
The National Minimum Wage
What is the national minimum wage,
What are some advantages of the n...,
What are some limitations of the ...
4
cards
Discrimination
When is discrimination in the lab...,
What are some of the problems of ...,
How can market forces work agains...
6
cards
Perfect Competition
What are the features of a perfec...,
What is perfect competition like ...,
What s happens to perfect competi...
4
cards
Monopolistic Competition
What are the features of a monopo...,
What s some examples of monopolis...,
What s the efficiency of monopoli...
3
cards
Oligopolies
What is an oligopoly,
What are some examples of oligopo...,
What curve do you use for oligopo...
21
cards
Monopolies
Is a monopoly efficient,
What are some problems with a mon...,
What are the potential benefits o...
6
cards
Price Discrimination
What are the necessary conditions...,
What is 1st degree price discrimi...,
What is 2nd degree price discrimi...
7
cards
Objectives Of Firms
How is survival an objective a fi...,
How is growth another objective o...,
How is quality another objective ...
6
cards
Contestable Markets
What are contestable markets,
What are the conditions necessary...,
What are sunk costs
9
cards
Technological Change
What is invention,
What is innovation,
What are the different methods of...
7
cards
Nationalisation Vs Privatisation
What is nationalisation,
What are some positives of nation...,
What are some arguments against n...
7
cards
Regulation And Deregulation
What is regulation,
What are some examples of regulation,
What are some of the problems tha...
6
cards
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Microeconomics
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