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Elsie Runnicles
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Decks in this class (54)
O2E Financial sector
State 4 functions of money,
List 4 desirable characteristics ...,
List the main roles purposes of t...
14
cards
1 The economic problem
Economics,
Economic goods,
Scarcity
21
cards
2 The allocation of resources
Incentives,
Consumer incentives,
Firm incentives
14
cards
3 Oppurtunity cost
Opportunity cost,
A rational person would choose,
Trade offs
5
cards
4 Specialisation and trade
Specialization,
Division of labour,
Advantages of division of labour
7
cards
5 Demand
Demand,
Individual demand,
Market demand
18
cards
6 Supply
Supply,
Individual supply,
Market supply
18
cards
7 Consumer and producer surplus
Consumer surplus,
Producer surplus,
Evaluation of the impact of a cha...
4
cards
8 The interaction of markets
Market equilibrium,
Market disequilibrium,
Excess supply
8
cards
9 Elasticity
Elasticity,
Price elasticity of demand,
Interpreting ped
11
cards
10 The concept of the margain
Utility,
Marginal utility,
Total utility
5
cards
11 Market failure and externalities
Market failure,
Externality,
Positive externality of consumption
8
cards
12 Information failure
Information failure,
Asymmetric information,
Moral hazard
6
cards
13 Public goods
Private goods,
Public goods,
Quasi public goods
6
cards
14 Government intervention
Direct taxation,
Indirect taxation,
Effectiveness of tax
29
cards
15 Business objectives
Profit maximisation,
Sales revenue,
Sales volume maximisation
10
cards
16 Costs and economies of scale
Fixed costs,
Variable costs,
Total costs
21
cards
17 Revenue and profit
Revenue,
Profit,
Loss
6
cards
18 Perfect competition
Perfect competition,
Conditions for,
Short run perfect competition
6
cards
19 Monopoly
Monopoly,
Conditions of a monopoly,
Dynamic efficiency
8
cards
20 Monopolistic competition
Monopolistic competition,
Conditions of monopolistic compet...,
Short run monopolistic competition
6
cards
21 Oligopoly
Oligopoly,
Conditions of oligopoly,
Kinked demand curve
11
cards
22 Contestable markets
Contestable market,
Characteristics of a contestable ...,
Advantages of a contestable market
4
cards
23 Demand for labour
Demand for labour,
Factors affecting demand for labo...,
Factors affecting demand for labo...
14
cards
24 Supply of labour
Supply of labour,
Factors effecting supply of labou...,
Factors effecting supply of labou...
13
cards
25 The interaction of labour markets
Wage differentials,
Impact of trade union on labour m...,
Trade union
9
cards
26 The circular flow of income
Income,
Circular flow of income,
Methods of measuring national inc...
5
cards
27 Aggregate demand
Aggregate demand,
Shifts in ad,
Relationship between income and c...
3
cards
28 Aggregate supply
Aggregate supply,
Short run aggregate supply,
Shifts in the sras
5
cards
29 The interaction of aggregate demand and supply
Short run macroequilibrium equili...,
Long run macroequilibrium neoclas...,
Long run macroequilibrium keynsia...
3
cards
30 The multiplier and accelerator
National income multiplier,
The accelerator,
Impact of accelerator and multipl...
13
cards
31 Economic growth
Economic growth,
Policy objective of economic growth,
Stages of economic cycle
10
cards
32 Economic development
Economic development,
Primary sector,
Secondary sector
14
cards
33 Employment
Employment,
Employment rate,
Unemployment rate
22
cards
34 Inflation
Inflation,
Deflation,
Disinflation
9
cards
35 Balance of payments
0
cards
36 Trends in macroeconomic indicators
0
cards
37 Income distribution and welfare
0
cards
38 The phillips curve
0
cards
39 Fiscal policy
0
cards
40 Monetary policy
0
cards
41 Supply-side policies
0
cards
42 Policy conflicts
0
cards
43 International trade
0
cards
44 Exchange rates
0
cards
45 Globalisation
0
cards
46 Trade policies and negotiations
0
cards
47 Money and interest rates
0
cards
48 The financial sector
0
cards
49 Financial regulation
0
cards
Mirco
Accounting profit,
Asymmetric information,
Bilateral monopoly
209
cards
Macro
Absolute advantage,
Absolute poverty,
Accelerator
222
cards
Micro 2
Free market economy,
Efficiency in a market economy,
Inefficiency in a market economy
131
cards
Pnenomics
Shifts in demand,
Price mechanism,
Shifts in supply
14
cards
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OCR Economics A-level
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