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PMT AQA A Level Economics > 3.1.2 Price determination in a competitive market: > Flashcards

3.1.2 Price determination in a competitive market: Flashcards

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Study These Flashcards

PMT AQA A Level Economics (19 decks)

3.1.1: Economic Methodology & The Economic Problem

3.1.1.1 Economic methodology

3.1.1.2 The nature and purpose of economic activity

3.1.1.3 Economic resources

3.1.1.4 Scarcity, choice and the allocation of resources

3.1.1.5 Production possibility diagrams

3.1.2 Price determination in a competitive market:

3.1.2.1 The determinants of the demand for goods and services

3.1.2.2 Price, income and cross elasticities of demand

3.1.2.3 The determinants of the supply of goods and services

3.1.2.4 Price elasticity of supply

3.1.2.5 The determination of equilibrium market prices

3.1.2.6 The interrelationship between markets

3.1.3 Production, costs and revenue:

3.1.3.1 Production and productivity

3.1.3.2 Specialisation, division of labour and exchange

3.1.3.3 Costs of production

3.1.3.4 Economies and diseconomies of scale

3.1.3.5 Average revenue, total revenue and proft

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