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Decks in this class (60)
4.1.1: Economic Methodology & The Economic Problem (Topic 1)
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4.1.1.1 Economic methodology
What is economics as a social sci...,
How does economic methodology dif...,
What is the ceteris paribus assum...
13
cards
4.1.1.2 The nature and purpose of economic activity
What is the central purpose of ec...,
What are the key economic decisio...,
What is the role of resources in ...
17
cards
4.1.1.3 Economic resources
What are the four factors of prod...,
What is land as a factor of produ...,
What is labour as a factor of pro...
18
cards
4.1.1.4 Scarcity, choice and the allocation of resources
What is the fundamental economic ...,
Why does scarcity force choices t...,
What is opportunity cost 3
15
cards
4.1.1.5 Production possibility diagrams
What does a production possibilit...,
What does a ppf illustrate about ...,
What is the opportunity cost show...
20
cards
4.1.2 Price determination in a competitive market (Topic 2)
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4.1.2.1 The determinants of the demand for goods and services
What is demand in economics 1,
What does a demand curve show 2,
What causes movements along the d...
20
cards
4.1.2.2 Price, income and cross elasticities of demand
What is price elasticity of deman...,
What does a ped 1 indicate 2,
What does a ped 1 indicate 3
24
cards
4.1.2.3 The determinants of the supply of goods and services
What is supply in economics 1,
Why is the supply curve upward sl...,
What causes movements along the s...
20
cards
4.1.2.4 Price elasticity of supply
What is price elasticity of suppl...,
What does a pes 1 indicate 2,
What does a pes 1 indicate 3
18
cards
4.1.2.5 The determination of equilibrium market prices
What is market equilibrium 1,
What is the market clearing price 2,
What is excess demand 3
18
cards
4.1.2.6 The interrelationship between markets
What is the interrelationship bet...,
What is derived demand 2,
Provide an example of derived dem...
18
cards
4.1.4 Production, costs and revenue (Topic 4)
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4.1.4.1 Production and productivity
What is production in economics 1,
What are the factors of production 2,
What is productivity 3
18
cards
4.1.4.2 Specialisation, division of labour and exchange
What is specialisation 1,
What is the division of labour 2,
Who introduced the concept of div...
24
cards
4.1.4.3 The law of diminishing returns and returns to scale
What is the difference between th...,
What is marginal return 2,
What is average return 3
24
cards
4.1.4.4 Costs of production
What is the difference between fi...,
What is total cost 2,
What is average cost 3
24
cards
4.1.4.5 Economies and diseconomies of scale
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What are internal economies of sc...,
What are external economies of sc...
25
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4.1.4.6 Marginal, average and total revenue
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What is total revenue tr 2,
What is average revenue ar 3
25
cards
4.1.4.7 Profit
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What is profit 2,
What is normal profit 3
25
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4.1.4.8 Technological change
What is the difference between in...,
How does technological change aff...,
How does technological change aff...
24
cards
4.1.5 Perfect competition, imperfectly competitive markets and monopoly (Topic 5)
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4.1.5.1 Market structures
What is the spectrum of market st...,
What three main factors distingui...,
How does the number of firms affe...
24
cards
4.1.5.2 The objectives of firms
What is the traditional assumptio...,
What is the profit maximizing rule 2,
When do profits increase 3
24
cards
4.1.5.3 Perfect competition
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What are the key characteristics ...,
Why are firms price takers in per...
25
cards
4.1.5.4 Monopolistic competition
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What are the key characteristics ...,
How does product differentiation ...
25
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4.1.5.5 Oligopoly
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What are the key characteristics ...,
How is market concentration measu...
25
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4.1.5.6 Monopoly and monopoly power
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What defines a pure monopoly 2,
When is a firm considered to have...
25
cards
4.1.5.7 Price discrimination
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What are the three conditions for...,
What is first degree price discri...
21
cards
4.1.5.8 The dynamics of competition and competitive market processes
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What are short run benefits of co...,
What are long run benefits of com...
21
cards
4.1.5.9 Contestable and non-contestable markets
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What are the key characteristics ...,
What is hit and run competition 3
21
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4.1.5.10 Market structure, static efficiency, dynamic efficiency and resource allocation
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What is the difference between st...,
What are the conditions for produ...
14
cards
4.1.5.11 Consumer and producer surplus
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What is consumer surplus 2,
What is producer surplus 3
15
cards
4.1.6 The labour market (Topic 6)
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4.1.6.1 The demand for labour, marginal productivity theory
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Why is labour demand considered a...,
What is the marginal productivity...
15
cards
4.1.6.2 Influences upon the supply of labour to different markets
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What determines the supply of lab...,
What does the labour supply curve...
15
cards
4.1.6.3 The determination of relative wage rates and levels of employment in perfectly competitive labour markets
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What are the key characteristics ...,
How is equilibrium wage determine...
13
cards
4.1.6.4 The determination of relative wage rates and levels of employment in imperfectly competitive labour markets
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What makes labour markets imperfe...,
What is a monopsony labour market 3
14
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4.1.6.5 The influence of trade unions in determining wages and levels of employment
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What are the main goals of trade ...,
What factors determine a union s ...
13
cards
4.1.6.6 The National Minimum Wage
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What is the national minimum wage...,
Draw the nmw effect in a competit...
14
cards
4.1.6.7 Discrimination in the labour market
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What conditions enable wage discr...,
Why do women earn less than men o...
13
cards
4.1.7 The distribution of income and wealth: poverty and inequality (Topic 7)
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4.1.7.1 The distribution of income and wealth
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What is the difference between in...,
List 4 factors affecting income d...
14
cards
4.1.7.2 The problem of poverty
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What is the difference between ab...,
List 3 economic causes of poverty 3
14
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4.1.7.3 Government policies to alleviate poverty and to influence the distribution of income and wealth
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How does progressive taxation red...,
What is the evaluation of progres...
11
cards
4.1.8 The market mechanism, market failure and government intervention in markets (Topic 8)
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4.1.8.1 How markets and prices allocate resources
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What is the price mechanism 2,
How does price ration resources 3
13
cards
4.1.8.2 The meaning of market failure
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What is market failure 2,
Distinguish complete and partial ...
13
cards
4.1.8.3 Public goods, private goods and quasi-public goods
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What are the two key characterist...,
Why does the free rider problem l...
13
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4.1.8.4 Positive and negative externalities in consumption and production
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What is an externality 2,
Distinguish private and social co...
13
cards
4.1.8.5 Merit and demerit goods
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What are merit goods 2,
What are demerit goods 3
13
cards
4.1.8.6 Market imperfections
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What s the difference between sym...,
What is the principal agent probl...
12
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4.1.8.7 Competition policy
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What are the main objectives of u...,
What is the uk s red tape challen...
13
cards
4.1.8.8 Public ownership, privatisation, regulation and deregulation of markets
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What is public ownership national...,
List 3 arguments for public owner...
14
cards
4.1.8.9 Government intervention in markets
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Why do governments intervene in m...,
How do indirect taxes correct mar...
13
cards
4.1.8.10 Government failure
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What is government failure 2,
List 4 causes of government failu...
11
cards
Macro: 4.2 The national and international economy
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4.2.1 The measurement of macroeconomic performance (Topic 1)
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4.2.1.1 The objectives of government economic policy
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cards
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PMT AQA A Level Economics
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A Level Economics (AQA)
- 81 decks
- 2253 flashcards
- 444 learners
Decks:
311 Economic Methodology And The Economi, 312 The Nature And Purpose Of Economic A, 313 Economic Resources, And more!
