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Zainab H
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Decks in this class (55)
1.1 Economic Methodology
Define ceteris paribus,
Economics is a social science,
What are positive statements
6
cards
1.2 The Nature And Purpose Of Economic Activity
What is the purpose of economic a...,
What are the 4 factors of production,
What are the three decisions econ...
7
cards
1.3 Economic Resources
What are the 4 factors of production,
Describe capital,
Describe entrepreneurship
9
cards
1.4 Scarcity, Choice And The Allocation Of Resources
What is the basic economic problem,
Define opportunity cost,
What is the importance of opportu...
3
cards
1.5 Production Possibility Diagrams
What do ppfs illustrate,
What do the points on the curve show,
Draw a ppf curve to show the oppo...
13
cards
2.1 Consumer Behaviour
What is the utility theory,
What is marginal utility,
Why is the demand curve downward ...
14
cards
2.2 Imperfect Information
Define symmetric information and ...,
Define imperfect information and ...,
Define asymmetric information and...
5
cards
2.3 Aspects Of Behavioural Economic Theory
Individuals are,
Who recognised the limitations of...,
What are the assumptions of the b...
15
cards
2.4 Behavioural Economics And Economic Policy
What is meant by behavioural econ...,
What is choice architecture,
What is framing
8
cards
3.1 The Determinants Of the Demand For Goods And Services
What is demand,
Movements along the demand curve,
Factors shifting the demand curve
12
cards
3.2 Price, Income And Cross Elasticities Of Demand
What is the price elasticity of d...,
How responsive is a price elastic...,
How responsive in an inelastic go...
26
cards
3.3 The Determinants Of The Supply Of Goods And Services
What is supply,
Why is the supply curve upward sl...,
Movements along the supply curve
11
cards
3.4 Price Elasticity Of Supply
What is price elasticity of supply,
What is the impact of supply bein...,
What is the impact of supply bein...
11
cards
3.5 The Determination Of Equilibrium Market Prices
What is equilibrium price and qua...,
What is excess demand,
What is excess supply
4
cards
3.6 The Interrelationship Between Markets
Changes in markets,
What are the types of demand,
What is derived demand
6
cards
4.1 Production And Productivity
What is production,
What is productivity calculated by,
What is productivity
6
cards
4.2 Specialisation, Division Of Labour And Exchange
When does specialisation occur,
Who developed the concept of spec...,
What are the advantages of specia...
10
cards
4.3 The Law Of Diminishing Returns And Returns To Scale
What is the short run,
What is the long run,
What are marginal returns
12
cards
4.4 Costs Of Production
The short run,
In the long run,
The measure of the short run
15
cards
4.5 Economies And Disececonomies Of Scale
What are internal economies of scale,
Give examples of internal economi...,
Internal economies of scale risk ...
17
cards
4.6 Marginal, Average And Total Revenue
What is total revenue,
What is total revenue calculated by,
What is average revenue
10
cards
4.7 Profit
What is profit,
What is normal profit,
When is there normal profit
9
cards
4.8 Technological Change
Define invention,
Define innovation,
How can technological change can ...
6
cards
5.1 Market Structures
Define market structure,
What are the different market str...,
What is each market structure cha...
8
cards
5.2 The Objectives Of Firms
What is the main objective of firms,
Define profit,
When do firms break even
20
cards
5.3 Perfect Competition
What are the characteristics of p...,
How is price determined in a perf...,
What will profits look like in a ...
9
cards
5.4 Monopolistic Competition
What are the characteristics of m...,
Profit maximising equilibrium in ...,
Draw a diagram to illustrate the ...
7
cards
5.5 Oligopolies
Oligopoly as a market structure,
Oligopoly as a behaviour,
What are the main characteristics...
32
cards
5.6 Monopolies And Monopoly Power
What are the characteristics of a...,
When does a firm have monopoly po...,
Which types of firms are said to ...
14
cards
5.7 Price Discrimination
What is price discrimination when...,
What is the benefit of demand cur...,
Draw a diagram to show the differ...
11
cards
5.8 Dynamics Of Competition And Competitive Market Processes
What are the long run benefits li...,
What are the short run benefits l...,
What are the benefits for consume...
10
cards
5.9 Contestable And Non-Contestable Markets
What are the characteristics of a...,
What are the implications of cont...,
What is the significance of barri...
13
cards
5.10 Market Structures, Static And Dynamic Efficiency, Resource Allocation
What is static efficiency,
What is dynamic efficiency,
What are the conditions required ...
10
cards
5.11 Consumer And Producer Surplus
When is consumer and producer sur...,
What is consumer surplus,
Where is consumer surplus on a di...
10
cards
6.1 The Demand For Labour, Marginal Productivity Theory
What is the labour market,
What factors will lead to movemen...,
What factors affect the demand fo...
12
cards
6.2 Influences Upon The Supply Of Labour To Different Markets
What is the supply of labour,
What is the supply of labour affe...,
Factors affecting the supply of l...
10
cards
6.3 The Determination Of Relative Wage rates And Levels Of Employment In Perfectly Competitive Labour Markets
The economists model of wage dete...,
The economists model of wage dete...,
The economists model of wage dete...
4
cards
6.4 The Determination Of Relative Wage Rates And Levels Of Employment In Imperfectly Competitive Labour Markets
How does monopsony power contribu...,
How does trade union power contri...,
How does imperfect information co...
3
cards
6.5 The Influence Of Trade Unions In Determining Wages And Levels Of Employment
What is the main aim of a trade u...,
What factors affect the ability o...,
How are wages and employment like...
3
cards
6.6 The National Minimum Wage
What is the national minimum wage,
What are some influences of the n...
2
cards
6.7 Discrimination In The Labour Market
What are some examples of why som...,
Differences in workers being paid...,
Differences in workers being paid...
7
cards
7.1 The Distribution Of Income Amd Wealth
What is wealth defined as,
What is wealth inequality,
What is income
16
cards
7.2 The Problem Of Poverty
What is absolute poverty,
What is relative poverty,
What are some causes of poverty
15
cards
7.3 Government Policies To Alleviate Poverty And To Influence The Distribution Of Income And Wealth
What are some ways the government...,
Give some examples of times when ...,
What taxes could the government e...
6
cards
8.1 How Markets And Prives Allocate Resources
What is the price mechanism,
What are the three functions of t...,
What is the rationing function
8
cards
8.2 The Meaning Of Market Failure
What is market failure,
What is meant by a misallocation ...,
What are some types of market fai...
10
cards
8.3 Public Goods, Private Goods And Quasi-public Goods
What are public goods,
What are two features of public g...,
What is meant by non excludable
12
cards
8.4 Positive And Negative Externalities In Consumption And Production
What are externalities,
What are negative externalities,
What are positive externalities
12
cards
8.5 Merit And Demerit Goods
What is a demerit good,
What are merit goods,
What is the cause of underprovisi...
3
cards
8.6 Market Imperfections
What is symmetric information,
What is asymmetric information,
What is imperfect information
13
cards
8.7 Competition Policy
How has competition been enhanced...,
What is the importance of small a...,
Who proposed the idea of creative...
11
cards
8.8 Public Ownership, Privatisation, Regulation And Deregulation Of Markets
What is nationalisation,
What is the result of nationalisi...,
What is the objective of national...
7
cards
8.9 Government Intervention In Markets
Why do governments intervene in m...,
What are indirect taxes,
What are the two types of indirec...
27
cards
8.10 Government Failure
What is government failure,
What are some causes of governmen...,
Causes of government failure dist...
6
cards
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aqa a level economics microeconomics
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