This class was created by Brainscape user Verity Russell. Visit their profile to learn more about the creator.
By:
Verity Russell
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Decks in this class (150)
Th3.1: Why Firms Grow Whilst Others Remain Small
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7
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Th3.1: The Principal Agent Problem
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11
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Th3.1: Public and Private Sector
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4
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Th3.1: Profit and Not-for-profit Organisations
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2
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Th3.1: Organic Growth
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10
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Th3.1: Forward and Backward Vertical Integration
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7
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Th3.1: Forward and Backward Vertical Integration Advantages
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5
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Th3.1: Horizontal Integration Advantages
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5
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Th3.1: Horizontal Integration Disadvantages
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2
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Th3.1: Conglomerate Integration Advantages
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5
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Th3.1: Conglomerate Integration Disadvantages
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2
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Th3.1: Constraints of Business Growth
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8
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Th3.1: Demergers
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1
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Th3.1: Reasons for Demergers
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10
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Th3.1: Impacts of Demergers
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6
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Th3.2: Profit Maximisation
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8
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Th3.2: Revenue Maximisation
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8
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Th3.2: Sales Maximisation
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11
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Th3.2: Satisficing
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5
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Th3.2: Other Aims
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5
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Th3.3: Types of Revenue
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4
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Th3.3: Price Elasticity
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9
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Th3.3: Marginal Revenue
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8
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Th3.3: Types of Cost
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10
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Th3.3: Short-run Cost Curves
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2
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Th3.3: Diminishing Marginal Productivity
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4
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Th3.3: Curves
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16
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Th3.3: The Relationship Between Short-run and Long-run Cost Curves
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10
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Th3.3: Shift and Movement of the LRAC Curve
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5
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Th3.3: Economies and Diseconomies of Scale
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8
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Th3.3: Internal Economies of Scale
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2
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Th3.3: ^^ Technical Economies
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6
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Th3.3: ^^ Financial Economies
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3
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Th3.3: ^^ Managerial Economies
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2
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Th3.3: ^^ Marketing and Purchasing Economies
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4
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Th3.3: External Economies of Scale
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2
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Th3.3: ^^ Labour
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3
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Th3.3: ^^ Support Services
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1
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Th3.3: Diseconomies of Scale
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1
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Th3.3: ^^ Workers
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2
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Th3.3: ^^ Geography
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1
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Th3.3: ^^ Change
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1
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Th3.3: ^^ Price of Materials
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3
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Th3.3: ^^ Management
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4
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Th3.3: Normal Profits, Supernormal Profits and Losses
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4
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Th3.3: Condition for Profit Maximisation
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3
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Th3.3: Short-run and Long-run Shut-down Points
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12
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Th3.4: Efficiency
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2
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Th3.4: ^^ Allocative Efficiency
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2
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Th3.4: ^^ Productive Efficiency
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4
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Th3.4: ^^ Dynamic Efficiency
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6
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Th3.4: ^^ X-inefficiency
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5
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Th3.4: Perfect Competition
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3
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Th3.4: Characteristics of Perfect Competition
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7
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Th3.4: Profit Maximising Equilibrium
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8
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Th3.4: Efficiency
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6
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Th3.4: Monopolistic Competition
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4
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Th3.4: Monopolistic Competition Characteristics
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4
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Th3.4: Profit Maximising Equilibrium 2
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8
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Th3.4: Efficiency 2
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7
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Th3.4: Characteristics of Oligopoly
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2
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Th3.4: Kinked Demand Theory
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6
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Th3.4: N-firm Concentration Ratios
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4
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Th3.4: Collusive and Non-Collusive Behaviour
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8
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Th3.4: Collusive Oligopoly
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12
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Th3.4: Non-Collusive Oligopoly
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2
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Th3.4: Game Theory
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12
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Th3.4: ^^ Prisoner's Dilemma
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2
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Th3.4: Types of Price Competition
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2
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Th3.4: Prices Wars
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7
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Th3.4: Predatory Pricing
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3
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Th3.4: Limit Pricing
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4
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Th3.4: Other Pricing Strategies
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8
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Th3.4: Types of Non-Price Competition
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9
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Th3.4: Efficiency 3
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3
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Th3.4: Characteristics of Monopoly
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3
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Th3.4: Profit Maximising Equilibrium 3
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3
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Th3.4: Third Degree Price Discrimination
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10
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Th3.4: Costs and Benefits
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6
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Th3.4: Natural Monopoly
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8
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Th3.4: Costs and Benefits
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1
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Th3.4: ^^ Firms
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6
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Th3.4: ^^ Employees
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3
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Th3.4: ^^ Suppliers
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2
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Th3.4: ^^ Consumers
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6
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Th3.4: ^^ Efficiency
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3
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Th3.4: Williamson Trade Off
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13
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Th3.4: Extra Monopoly Info
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4
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Th3.4: Characteristics and Conditions of Monopsony
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9
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Th3.4: Costs and Benefits
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1
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Th3.4: ^^ Firms
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2
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Th3.4: ^^ Consumers
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4
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Th3.4: ^^ Employees
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3
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Th3.4: ^^ Suppliers
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1
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Th3.4: Contestability
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4
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Th3.4: Characteristics of Contestable Markets
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5
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Th3.4: Implications
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8
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Th3.4: Types of Barriers to Entry and Exit
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11
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Th3.4: Sunk Costs and the Degree of Contestability
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6
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Th3.4: Reasons for Increasing Contestability
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10
cards
Th3.5: Demand for Labour
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7
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Th3.5: Derived Demand
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2
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Th3.5: Factors Influencing Demand for Labour
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10
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Th3.5: Factors Affecting PED of Labour
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6
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Th3.5: Factors Influencing Supply of Labour
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9
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Th3.5: ^^ Wages
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3
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Th3.5: Market Failure
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3
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Th3.5: Immobility
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5
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Th3.5: Elasticity of Supply
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7
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Th3.5: Wage Determination in Competitive and Non-Competitive Markets
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4
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Th3.5: Wage Determination:
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2
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Th3.5: ^^ Perfect Competition
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6
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Th3.5: ^^ Monopsony in the Labour Market
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7
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Th3.5: ^^ Monopoly in the Labour Market
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9
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Th3.5: ^^ Bilateral Monopoly
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9
cards
Th3.5: Labour Market Issues
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10
cards
Th3.5: Arguments for the National Minimum Wage
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8
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Th3.5: Arguments against the National Minimum Wage
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5
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Th3.5: Impact of Minimum Wage
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2
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Th3.5: Minimum Wage - Macroeconomic Effects
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5
cards
Th3.5: Maximum Wages
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9
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Th3.5: Public Sector Wage Setting
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5
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Th3.5: Tackling Immobility
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13
cards
Th3.6: Government Intervention
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2
cards
Th3.6: Controlling Mergers
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5
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Th3.6: Controlling Monopolies
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4
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Th3.6: ^^ Price Regulation
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9
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Th3.6: ^^ Profit Regulation
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5
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Th3.6: ^^ Quality Standards
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4
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Th3.6: ^^ Performance Targets
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6
cards
Th3.6: Other Types of Regulation for Monopolists
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1
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Th3.6: Promoting Competition and Contestability
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1
cards
Th3.6: ^^ Promotion of Small Business
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3
cards
Th3.6: ^^ Deregulation
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4
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Th3.6: ^^ Competitive Tendering
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8
cards
Th3.6: Protecting Suppliers and Employees
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1
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Th3.6: ^^ Restrictions on Monopsony Power
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3
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Th3.6: ^^ Workers' Rights
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3
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Th3.6: Privatisation and Nationalisation
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3
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Th3.6: Advantages of Privatisation
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6
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Th3.6: Disadvantages of Privatisation
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5
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Th3.6: Advantages of Nationalisation
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6
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Th3.6: Disadvantages of Nationalisation
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4
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Th3.6: Natural Monopolies
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4
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Th3.6: Impacts of Government Intervention
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12
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Th3.6: Limits
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1
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Th3.6: Regulatory Capture
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5
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Th3.6: Asymmetric Information
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3
cards
Fernie Definitions Test
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14
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Fernie Definitions Test 2
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15
cards
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a level eco - micro 2
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