This class was created by Brainscape user Chloe Zhang. Visit their profile to learn more about the creator.
By:
Chloe Zhang
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Decks in this class (20)
7.1 Utility
utility and marginal utility, diminishing marginal utility, equi-marginal principle
5
cards
7.2 Indifference Curve and Budget Line
Budget line,
Substitution effect,
Income effect
8
cards
7.3 Efficiency and Market Failure
Economic efficiency,
Productive efficiency,
Allocative efficiency
4
cards
7.4 Private costs and benefits, externalities and social costs and benefits
Externality,
Negative externality,
Positive externality
12
cards
7.5 Types of cost, revenue and profit, short-run and long-run production
Isoquant,
Production function,
Marginal product
19
cards
7.6 Different market structures
Market structure,
Barriers to entry,
Perfect competition
13
cards
7.7 Growth and Survival of firms
Horizontal integration,
Cartel,
Diversification
5
cards
7.8 Differing objectives and policies of firms
Limit pricing,
Price leadership,
Sales revenue maximisation
5
cards
8.1 Government policies to achieve efficient resource allocation and correct market failure
Regulations,
Pollution permits,
Property rights
5
cards
8.2 Equity and redistribution of income and wealth
Equity,
Wealth,
Lorenz curve
10
cards
8.3 Labour market forces and government intervention
Derived demand,
Marginal revenue product,
Transfer earnings
5
cards
9.1 The circular flow of income
Economic growth,
Output gap,
National income
35
cards
9.2 Economic growth and sustainability
Output gap,
Negative output gap,
Positive output gap
8
cards
9.3 Employment_unemployment
Labour productivity,
Unemployment,
Full employment
9
cards
9.4 Money and banking
Narrow money,
Broad money,
Quantity theory of money
17
cards
10 Government macroeconomic intervention
Tinbergen s rule,
Inflation target,
Phillips curve
8
cards
11.1-2 Policies to correct BoP disequilibrum and Exchange rate
Expenditure switching policy,
Expenditure reducing policy,
Nominal exchange rate
7
cards
11.3 Economic Development
Developed economies,
Developing economy,
Poverty cycles
6
cards
11.4 Characteristics of countries at different levels of Economic Development
Purchasing power parity ppp,
National debt,
Multidimensional poverty index mpi
13
cards
11.5-6 Relationship btw countries at different levels of development and Globalisation
World bank,
Prebisch singer hypothesis,
Foreign aid
14
cards
More about
a2 economics
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