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Jamie Emerick
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Decks in this class (28)
The margin and rationality
What is the margin,
Common examples are margins,
What is marginal and total utility
13
cards
Recap
What is a budget line
1
cards
Static and dynamic efficiency
Define x inefficiency,
Define allocative efficiency,
Define productive efficiency
7
cards
Objectives of firms
Define normal profit,
Equation for profit maximisation,
Equation for sales revenue maximi...
13
cards
Objectives of firms 2
Define principal agent problem,
Define social welfare,
Define corporate social responsib...
6
cards
Costs
How do you calculate average tota...,
How do you calculate afc avc cost,
What is marginal cost
4
cards
Costs and time
Define the short run,
Define the long run,
Define sunk costs with an example
5
cards
Economies of scale
Define economies of scale,
Define internal economies of scale,
Define external economies of scale
5
cards
Diseconomies of scale
Define diseconomies of scale,
Define internal and external dise...,
3 examples of diseconomies of scale
3
cards
Profit and loss
Formula for accounting loss non e...,
Definition of normal profit,
Defintion of supernormal profit
7
cards
Concentration ratios and barriers to entry
Define n firm concentration ratio,
Definition of barrier to entry,
Definition of barrier to exit
6
cards
Perfect competition
Whats a market structure,
Basic definition of perfect compe...,
Definition of a price taker
10
cards
Monopoly
Definition of monopoly,
What assumptions are made about m...,
What does a monopoly p r c diagra...
5
cards
Price discrimination
Define 1st degree price discrimin...,
Define 2nd degree price discrimin...,
Define 3rd degree price discrimin...
7
cards
Natural monopoly
Define natural monopoly,
Examples of natural monopoly,
How do natural monopolies arise a...
6
cards
monopolistic competition
Definition of monopolistic compet...,
What are the characteristics of m...,
How is product differentiation be...
8
cards
Oligopoly
Define oligopoly,
Whats game theory,
What is dominant strategy
18
cards
contestable markets
What are contestable markets,
What is hit and run entry,
What are the characteristic of a ...
10
cards
Mergers and competition policy
What is a horizontal merger and v...,
What is a merger,
What is a conglomerate merger
13
cards
Wages, labour and productivity
What are real earnings,
What is unit labour cost,
What is labour productivity
13
cards
Labour supply
Define a non pecuniary benefit,
Define the income effect,
Define the substitution effect
10
cards
Wage determination
Define transfer earnings,
Define economic rent,
Define marginal physical product ...
12
cards
Wages differentials, equilibria, trade unions, monopsony
Definition of wage differentials,
Define geographic and occupationa...,
Define trade unions
26
cards
Features of the labour market
Definition of working population,
Definition of dependency ratio,
Definition of economically active
13
cards
Evaluating features of the labour market
What is the difference between la...,
Whats the difference between indi...,
What is productivity bargaining
11
cards
Government intervention in the labour market
How can the government intervene ...,
How does regulation affect the la...,
What examples are there of the go...
5
cards
Government intervention in the labour market part 2
What are the 5 reasons for the go...,
What is a skills gap and what is ...,
What is income and wealth inequality
20
cards
Demergers
Why might business choose to demerge,
What is the impact of demergers o...,
What is the impact of demergers o...
6
cards
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Year 13 Microeconomics
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