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Decks in this class (14)
1.1 The Economic Problem
1.1-1.3
25
cards
1.2 The Allocation Of Resources
Microeconomics
9
cards
1.3 Opportunity Cost
What is a production possibility ...,
What does the ppf assume 2,
What does a point on the ppf repr...
14
cards
2.1 Specialisation and Trade
What is specialisation 1,
What is division of labour 2,
How does specialisation increase ...
9
cards
2.2 Demand
What is demand 1,
What is the law of demand 2,
What does ceteris paribus mean 3
14
cards
2.3 Supply
What is supply 1,
What is the law of supply 2,
Why does supply increase with pri...
10
cards
2.4 Consumer And Producer Surplus
What is consumer surplus 1,
How is consumer surplus shown on ...,
What is producer surplus 3
13
cards
2.5 The Interaction Of Markets
What is market equilibrium 1,
What determines equilibrium price 2,
What happens if price is above eq...
8
cards
2.6 Elasticity
What is elasticity 1,
What is price elasticity of demand 2,
Formula for ped 3
17
cards
2.7 The Concept Of The Margin
What is market failure 1,
What is an externality 2,
Differentiate negative and positi...
16
cards
2.8 Market Failure And Externalities
Blank 1,
What is market failure 2,
What is allocative efficiency 3
23
cards
2.9 Information Failure
What is a merit good 1,
Examples of merit goods 2,
Why are merit goods underconsumed 3
8
cards
2.10 Public Goods
What is a public good 1,
What does non rivalrous mean 2,
What does non excludable mean 3
8
cards
2.11 Government Intervention
Blank 1,
What is government intervention 2,
What is an indirect tax 3
16
cards
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Microeconomics Ocr a-level
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