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Alice Garner
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Decks in this class (50)
Section 1 - The Economic Problem
What do economists do to compensa...,
Ceteris paribus definition,
When do economists use ceteris pa...
114
cards
Section 2 - Competitive Markets
Market definition,
Sub markets deifintion,
Supply and demand
67
cards
Section 3 - Business Economics
Production,
Input,
Tangible
120
cards
Section 4 - Market Structures
Model of perfect competition,
What conditions are satisfied in ...,
What conditions are satisfied in ...
99
cards
Section 5 - Market Failure
Market failure,
What are the 2 types of market fa...,
Complete market failure
69
cards
Section 6 - Government Intervention
Taxation intro,
Specific taxes,
Ad valorem taxes
63
cards
Section 7 - The Labour Market
Economically active population de...,
Labour,
Demand for labour
100
cards
Section 8 - Measuring Economic Growth
What are the 4 main macroeconomic...,
How can economic growth be measured,
National output definition
63
cards
Section 9 - The Circular Flow of Income
The circular flow of income,
Circular flow of income formula,
What are the 2 types of flow in c...
81
cards
Section 10 - Government Economic Policy Objectives
What are the 4 main objectives fo...,
Main objectives for government ma...,
Main objectives for government ma...
178
cards
Section 11 - Macroeconomic Policy Instruments
Fiscal policy definition,
What can fiscal policy be used for,
Types of fiscal policy
77
cards
Section 12 - The Financial Sector
Financial sector intro,
Everyday forms of borrowing for i...,
Everyday forms of borrowing for i...
88
cards
Section 14 - Economic Development
Economic growth definition,
Economic development,
National income data list
59
cards
Micro 1
The fundamental basic economic pr...,
Scarcity,
Economic activity
9
cards
Micro 2
What is the central purpose of ec...,
Key economic decisions are,
Factors of production
18
cards
Micro 3 - Consumer Behaviour, Utility And The Demand Curve
Consumer behaviour,
Ways to measure utility,
What is the national unit measure...
29
cards
Micro 4 - Productivity, a firm's costs and the supply curve
What does production do,
Division of labour definition,
Division of labour advantages
33
cards
Micro 5 - Price Equilibrium and the Market Mechanism
What are the two types of economy,
What type are most economies,
How to resolve fundamental econom...
49
cards
Micro 6 - Interrelationship Between Markets
Joint demand,
Competitive demand,
Composite demand
16
cards
Micro 7 - Revenue, Profit and Efficiency
Total revenue definition,
Average revenue definition,
Marginal revenue definition
20
cards
Micro 8 - Consumer and Producer Surplus And Allocative Efficiency
Consumer surplus definition,
Producer surplus definition,
Net welfare gain definition
18
cards
Micro 9 - Economies and Diseconomies of Scale
Economies of scale definition,
Diseconomies of scale definition,
Increasing returns to scale defin...
27
cards
Micro 10 - Market Failure, Positive and Negative Externalities
Q explain with an appropriate dia...,
Market failure definition,
Externalities definition
19
cards
Micro 11 - Public and Private Goods
Public goods definition,
Non excludability definition,
Non rivalry definition
13
cards
Micro 12 - Government Intervention, Taxation and Subsidies
The impact of an indirect tax dia...,
The impact of a subsidy diagram e...,
Welfare loss from tax and subsidy
15
cards
Micro 13 - Behavioural Economics and Causes of Market Failure
Classical economists belief,
Homo economicus definition,
Why doesnt the homo economicus as...
22
cards
Micro 14 - Objectives of Firms, Perfect Competition and Monopoly
Spectrum of competition between d...,
How to distinguish between differ...,
How is the competitiveness of an ...
28
cards
Micro 15 - Regulation and Direct Provision
Regulation definition,
What do regulations do,
Why may regulations not be very s...
22
cards
Micro 16 - Price Controls
Use of price controls,
Price controls definition,
Maximum price controls definition
18
cards
Micro 17 - Pollution Permits
Background pollution,
Traditional methods to tackle pol...,
Pollution permits
9
cards
Micro 18 - Competition Policy
Who enacts competition policy,
What are the aims of competition ...,
When will competitive authorities...
20
cards
Macro 1
What are the main objectives of g...,
What data is commonly used to mea...,
Indicator and objective
41
cards
Macro 2
Economic agent definition,
What are the 3 key economic agents,
Households
26
cards
Macro 3 - Balance of Payments on Trade
Balance of payments definition,
Exports definition,
Imports definition
40
cards
Macro 4 - Determinants of AD and SRAS
Aggregate definition,
Aggregate demand definition,
Aggregate supply definition
18
cards
Macro 5 - Short Run and Long Run Analysis
What are the fundamental determin...,
Long run aggregate supply definition,
Capacity definition
16
cards
Macro 6 - Short Run and Long Run Growth
Short run and long run growth,
What does short run growth depend on,
Demand side shocks definition
23
cards
Macro 7 - The Economic Cycle
Economic cycle definition,
Boom definition,
Boom features
27
cards
Macro 8 - Types, Causes, Measures And Costs Of Unemployment
Basic costs of unemployment,
Lfs,
Cc
21
cards
Macro 9 - Inflation, Deflation, Disinflation. Measures, Causes and Costs
2 ways to measure inflation,
Basket of goods,
Rpi
25
cards
Macro 10
List the conflicting macroeconomi...,
Conflicting macroeconomic objecti...,
Conflicting macroeconomic objecti...
9
cards
Macro 11
Demand side definition,
Supply side definition,
Fiscal policy definition
47
cards
Macro 12
Monetary policy definition,
Monetary policy summary,
Monetary policy may involve
19
cards
Macro 13: Supply Side Policy
Natural rate of unemployment info,
Natural rate of unemployment defi...,
Nairu definition
21
cards
Macro 14 - Evaluating Fiscal and Monetary Policy
Positive side effects of demand s...,
Problems evaluation demand side p...,
Fiscal policy evaluation crowding...
6
cards
Macro 15 - Evaluating Supply-Side Policy
Potential problems with supply si...,
Potential problems with supply si...,
Potential problems with supply si...
7
cards
Macro 16: Globalisation
Globalisation definition,
What caused globalisation list,
What caused globalisation improve...
22
cards
Financial Markets and Monetary Policy
When does market failure occur,
List of market failures in financ...,
Market failure in financial marke...
11
cards
Section 13 - The Global Economy
Developed countries definition,
Developing countries definition,
Emerging countries definition
39
cards
Glossary
Full employment,
Mass unemployment,
Economic inactivity
6
cards
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a level economics
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