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new econs
> 2.6 price changes > Flashcards
2.6 price changes Flashcards
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Study These Flashcards
new econs
(39 decks)
1.1 the nature of the economic problem
1.2 the factors of production
1.3 opportunity cost
1.4 production possibility curve (PPC) diagrams
2.1 microeconomics and macroeconomics
2.2 the role of markets in allocating resources
2.3 demand
2.4 supply
2.5 price determination
2.6 price changes
2.7 price elasticity of demand (PED)
2.8 price elasticity of supply (PES)
2.9 market economic system
2.10 market failure
2.11 mixed economic system
3.1 money and banking
3.2 households
3.3 workers
3.4 trade unions
3.5 firms
3.6 firms and production
2.7 firms' costs, revenue and objectives
2.8 market structure
4.1 the role of government
4.2 the macroeconomic aims of government
4.3 fiscal policy
4.4 monetary policy
4.5 supply-side policy
4.6 economic growth
4.7 employment and unemployment
4.8 inflation and deflation
5.1 living standards
5.2 poverty
5.3 population
5.4 differences in economic development between countries
6.1 international specialisation
6.2 globalisation, free trade and protection
6.3 foreign exchange rates
6.4 current account of balance of payments
