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edexcel a - microeconomics: theme 1 & 3

This class was created by Brainscape user rowida ahmed. Visit their profile to learn more about the creator.

By: rowida ahmed
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Decks in this class (10)

1.1 - The nature of economics
Define factors of production and ...,
Define capital goods,
Define ceteris paribus
52  cards
1.2 - How markets work
Define a contraction in demand la...,
Define a contraction in supply,
Define an extension in demand
67  cards
1.3 - Market failure
0  cards
1.4 - Government intervention
0  cards
3.1 - Business growth
State and explain reasons as to w...,
Explain how benefiting from econo...,
Explain how increasing market pow...
75  cards
3.2 - Business objectives
Define sales maximisation and sta...,
State the reasons as to which a b...,
Explain satisficing
3  cards
3.3 - Revenues, costs and profits
Define costs,
Define total cost,
Define fixed costs
43  cards
3.4 - Market structures
Define monopoly,
State the characteristics of a mo...,
Define barriers to entry
8  cards
3.5 - The labour market
Define the labour market,
Define wages,
Define nominal wages
45  cards
3.6 - Government intervention in product markets
State the aims of competition law,
State the types of behaviour uk c...,
State the role of the regulator
25  cards

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edexcel a - microeconomics: theme 1 & 3

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