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a level ocr economics - micro

This class was created by Brainscape user Mariam Kamara. Visit their profile to learn more about the creator.

By: Mariam Kamara
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Decks in this class (8)

1.1 The Economic Problem
What are economics goods,
What are free goods,
What is the basic economic problem
18  cards
1.2 The Allocation of Resources
What are market economies,
What are mixed economies,
What is a planned economy
11  cards
1.3 Opportunity Cost
What is opportunity cost,
What gives rise to opportunity cost,
What is a trade off
16  cards
2.1 Specialization and Trade
What is the division of labour,
What is specialisation,
Awhere a business area or economy...
16  cards
2.2 Demand
What is a market,
What is a sub market,
What is demand
20  cards
2.3 Supply
What is supply,
What is joint supply,
What is composite supply
10  cards
2.4 Consumer and Producer Surplus
What is consumer surplus,
What is producer surplus,
What is the total surplus
3  cards
2.5 The Interaction of Markets
What does ceteris paribus mean,
What is the equilibrium,
What is the equilibrium price
10  cards

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a level ocr economics - micro

  • Class purpose General learning

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