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Decks in this class (20)
3.1.1 Sizes and Types of Firms
What are the different types of firm,
What is a firm,
What is a not for profit organisa...
32
cards
3.1.2 Business Growth
What are the ways in which busine...,
What is organic growth,
Where can organic growth come abo...
26
cards
3.1.3 De-Mergers
What is a demerger,
What are the key motivations for ...,
What are recent examples of demer...
6
cards
3.2.1 Business Objectives
What are business objectives busi...,
What is profit maximisation,
What is revenue maximisation
19
cards
3.3.1 Revenue
What is revenue,
What is average revenue,
What is marginal revenue
17
cards
3.3.2 Costs
What are economic,
What are short run costs of produ...,
What are long run costs of produc...
24
cards
3.3.3 Economies and diseconomies of scale
What is returns to scale,
What happens we double factor inp...,
What happens when the scale of pr...
29
cards
3.3.4 Normal profits, supernormal profits and losses
Explain what normal profit is,
When is profit maximised,
Explain supernormal profit
12
cards
3.4 1 Economic efficiency
What is economic efficiency,
Explain allocative efficiency,
Explain productive efficiency
13
cards
3.4.2 Perfect Competition
What are the assumptions of a per...,
What are examples of perfect comp...,
Explain profit maximisation in pe...
16
cards
3.4.3 Monopolistic Competition
What is monopolistic competition,
How is monopolistic competition s...,
What are the key assumptions of m...
9
cards
3.4.4 Oligopoly
What is an oligopoly,
What are the key assumptions of a...,
Explain the meaning of strategic ...
36
cards
3.4.5 Monopoly
What is a working monopoly accord...,
What are characteristics of monopoly,
Why would mr be less than ar
27
cards
3.4.6 Monopsony
W,
What are examples of monopsony po...,
Give chains of reasoning explaini...
6
cards
3.4.7 Contestability
What are contestable markets,
What is a perfectly contestable m...,
What are examples of contestable ...
15
cards
3.5.1 Demand for Labour
What are factors that influence t...,
What does the wage rate diagram l...,
What does a movement along the la...
10
cards
3.5.2 Supply of Labour
What is the labour supply,
What does the labour supply curve...,
Explain the labour supply curve a...
16
cards
3.5.3 Wage determination in competitive and non-competitive markets
What is the equilibrium wage rate,
What are the main causes of diffe...,
What is the gig economy
34
cards
3.6.1 Government intervention in product markets
What are the aims of competition ...,
List what competition policy aims...,
What are the main pillars of uk c...
30
cards
3.6.2 The impact of government intervention
What are the advantages of an ene...,
What are the disadvantages of an ...,
Explain the indicators that might...
4
cards
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Theme 3 Microeconomics
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