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Teghan Souyana
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Decks in this class (17)
1.1- Nature of economics
What is ceteris paribus,
What is a positive statement,
What is a
21
cards
1.2- How Markets Work
What is rational decision making ...,
Demand,
Factors causing demand to shift
28
cards
1.3- Market Failure
3 types of market failure,
Govt intervention strategies mmst...,
The 2 characteristics of public g...
5
cards
1.4- Government Intervention
Pros and cons of max min pricing,
Pros and cons of subsidies,
Pros and cons of taxes mmstrips
4
cards
2.1- Measures of Economic Performance
Difference between real and nomin...,
Inflation definition and uk target,
Limits of using gdp for comparisons
22
cards
2.2- AD
Influences on consumption,
Influences on investment,
Influences on govt expenditure
4
cards
2.3- AS
Aggregate supply definition,
Factors influencing sras,
Factors influencing lras
5
cards
2.4- National Income
What is the circular flow of income,
What do households provide firms,
What do firms provide households
10
cards
APPLICATION
Uk application,
Congo application
2
cards
2.5- Economic Growth
Graphs for short run economic growth,
Long run economic growth graph,
Positive output gap
9
cards
2.6- Macroeconomic Objectives and Policies
Uk macro objectives,
Note uk unemployment remained rel...,
Demand side policies objective
19
cards
3.1- Business Growth
Reasons for firms to grow,
Reason why firms stay small,
What is the principle agent problem
14
cards
3.2 Business Objectives
Profit maximisation and its point...,
Revenue maximisation and its poin...,
Sales maximisation and its point ...
3
cards
3.3 Revenues, Costs & Profits
Total revenue definition and equa...,
Average revenue definition and eq...,
Marginal revenue definition and e...
6
cards
3.4 Market Structure
Allocative efficiency,
Productive efficiency,
Dynamic efficiency
29
cards
3.5 Labour Market
Demand for labour definition,
What is mrp,
Factors influencing demand for la...
10
cards
3.6 Government Intervention
Types of intervention to control ...,
What is price regulation,
What is profit regulation
4
cards
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economics
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