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By:
Ruby Campbell
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Decks in this class (33)
perfect competition, imperfectly competitive markets and monopoly
Profit maximisation,
Why do firms aim to profit maximise,
Why might firms not want to aim f...
97
cards
labour market
What is the supply of labour dete...,
What type of demand is labour,
What does the downard sloping dem...
49
cards
monetary policy
What are the four functions of money,
What is the money supply,
What is narrow money
55
cards
Production,costs And Revenues
What are the different types of e...,
Types of diseconomies of scale,
Define economies of scale
22
cards
Market Mechanism And Market And Government Failure
What are the 4 functions of prices,
Signalling function,
After signalling what does the in...
59
cards
Individual Economic Decision Making
What does an individuals demand c...,
Define rational behaviour,
Define utility
22
cards
Distribution Of Income And Wealth
Difference between income and wealth,
How is income measured by world bank,
How are countries categorised by ...
21
cards
The Objectives Of Government Economic Policy
What are the four main objectives,
Define short run economic growth,
Define long run economic growth
31
cards
How The Macreoeconomy Works
What is national income,
How is the flow of national outpu...,
What is national capital stock
44
cards
economic performance
Define inflation,
What happened to inflation in the...,
Two basic causes of inflation
76
cards
Economic Methodology
Positive statement,
Normative statement,
Need
15
cards
marginal analysis and market failure
Two types of market failure,
Private goods,
Private property rights
18
cards
The International Economy
Globalisation,
Main characteristics of globalisa...,
Consequences of globalisation les...
13
cards
Balance Of payments
Balance of payments,
Current account,
Why might the current account be ...
29
cards
Key Equations
Total cost,
Average costs,
Marginal cost
39
cards
supply side policy
Supply side definition,
2 types of ssp,
Intervention ssp
21
cards
employment and unemployment
Unemployment definition,
How can unemployment be calculated,
Real wage unemployment
15
cards
price mechanism
Definition,
3 main functions,
What does the rationing function do
15
cards
exchange rates
Definition,
Floating exchange rates,
Fixed exchange rates
21
cards
currency
Currency volitality,
Impact of depreciation on inflaiton,
Impact of depreciation on economi...
7
cards
marginal, average and total rev
Mr definition,
Tr definitio,
Ar definition
8
cards
profit
Profit,
Normal p,
3 reaso
5
cards
financial markets, types of banks, monetary policy, regulation
4 functions of money,
Money supply,
Narrow money
28
cards
PED,PES,XED,YED
Yed definition,
Yed formula,
In most cases yed is
5
cards
price determination in a competitive market
Demand,
Demand curve shows,
Changes in price cause ____ of de...
30
cards
financial markets and monetary policy
Debt finance,
Equity finance,
Debt
6
cards
15 marker bank
Commercial bank defintiion,
Com,
Investment bank
9
cards
efficiency
Where is productive efficiency,
What is productive efficiency,
Allocative efficiency
11
cards
Fiscal Policy
What is fiscal policy,
How is g financed
44
cards
Supply Side Policy
Supply side policies,
Supply side economy,
Succesful ssp
21
cards
behavioural economics theory
Assumptions of rational decision ...,
What influences decisions,
Utility
18
cards
utility
Utility,
Marginal utility,
Maximise ssatisfcation
10
cards
national income date
National income,
Limitation of ni date to compare ...,
Ppp
5
cards
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economics
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