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Lotti Loades
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Decks in this class (24)
Key Terms Week One
Define centrally planned economy,
Define,
Define scarcity
12
cards
Econmic Methodology
Positive statements,
Normative statements,
What are economic choices based off
15
cards
Theories
Authoritarianism beliefs,
Authoritarianism big names,
Libertarianism theory
4
cards
Macroeconomics Indicators
Define real gdp,
Define gdp per capita,
How to measure gdp per capita
14
cards
Macroeconmics Production
Factors of production,
Define economic goods,
Economic goods
17
cards
Demand
Define marginal utility,
Define marginal benefit,
Define marginal cost
20
cards
Productivity
Describe division of labour,
Adv of division of labour,
Dis of division of labour
11
cards
Balance Of Payments
Describe bop,
Parts of bop,
Describe current account
22
cards
Price Elasticity And Determinants In A Competetive Market
Define pes,
How to workout pes,
Reasons for supply to be elastic ...
28
cards
Supply
Describe short run aggregate supply,
Why is sras shifted,
Describe long sun aggregate supply
15
cards
Marginal Costs Etc- Micro
Normal profit,
Explicit costs,
Implicit costs
16
cards
efficiency types
Define static efficiency,
Describe productive efficiency,
Describe dynamic efficiency
6
cards
Micro- Economies Of Scale
Define economies of scale,
Define inter eos,
List the internal eos
11
cards
Macro- Unemployment
Conditions to be described as une...,
How is unemployment measured,
Describe labour force survey
25
cards
micro 10- positive and negative externalities
Define market failure,
Define externalities,
Describe negative production exte...
56
cards
macro- inflation and deflation
Define inflation,
Two types of inflation,
Define cost push inflation
20
cards
micro- consumer behaviour
Describe traditional economics,
Describe behavioural economics,
Effect of irrelevant alternatives
24
cards
micro- market structure
List market objectives,
Define structure of a market,
Factors of different market struc...
38
cards
macro- FISCAL POLICY
What does gov do if there is a ne...,
What does gov do if there is a po...,
Describe fiscal policy
28
cards
MONETARY POLICY
Describe the monetary policy comm...,
Functions of the bank of england,
Features of monetary policy
13
cards
government provision and regulations
Describe state provision,
Describe complete market failure,
Describe partial market failure
31
cards
circular flow of income
Describe the circular flow of income,
Describe the process of the circu...,
Describe withdrawals
16
cards
EXCHANGE RATES
Diagram of appreciation,
Define appreciation,
Define depreciation
10
cards
SUPPLY-SIDE POLICIES
MACRO
3
cards
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