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A-Level Economics > 3.3.4 - Normal Profits, Supernormal Profits & Losses > Flashcards

3.3.4 - Normal Profits, Supernormal Profits & Losses Flashcards

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A-Level Economics (87 decks)

1.1.1 - Economics As A Social Science

1.1.2 - Positive & Normative Economic Statements

1.1.3 - The Economic Problem

1.1.4 - Production Possibility Frontiers

1.1.5 - Specialisation & The Division Of Labour

1.1.6 - Free Market, Mixed & Command Economies

1.2.1 - Rational Decision Making

1.2.3 - Price, Income & Cross Elasticities Of Demand

1.2.5 - Elasticity Of Supply

1.2.6 - Price Determination

1.2.7 - Price Mechanism

1.2.8 - Consumer & Producer Surplus

1.2.9 - Indirect Taxes & Subsidies

1.2.10 - Alternative Views Of Consumer Behaviour

1.3.1 - Types Of Market Failure

1.3.2 - Externalities

1.3.3 - Public Goods

1.3.4 - Information Gaps

1.4.1 - Government Intervention In Markets

1.4.2 - Government Failure

2.1.1 - Economic Growth

2.1.2 - Inflation

2.1.3 - Employment & Unemployment

2.1.4 - Balance Of Payments

2.2.1 - The Characteristics Of AD

2.2.2 - Consumption

2.2.3 - Investment

2.2.4 - Government Expenditure

2.2.5 - Net Trade (X-M)

2.3.1 - The Characteristics Of AS

2.3.2 - Short - Run AS

2.3.3 - Long - Run AS

2.4.1 - National Income

2.4.2 - Injections & Withdrawals

2.4.3 - Equilibrium Levels Of Real National Output

2.4.4 - The Multiplier

2.5.1 - Causes Of Growth

2.5.2 - Output Gaps

2.5.3 - Trade (Business) Cycle

2.5.4 - The Impact Of Economic Growth

2.6.1 - Possible Macroeconomic Objectives

2.6.2 - Demand - Side Policies

2.6.3 - Supply - Side Policies

2.6.4 - Conflicts & Trade - Offs Between Objectives And Policies

3.1.1 - Sizes & Types Of Firms

3.1.2 - Business Growth

3.1.3 - Demergers

3.2.1 - Business Objectives

3.3.1 - Revenue

3.3.3 - Economies & Diseconomies Of Scale

3.3.4 - Normal Profits, Supernormal Profits & Losses

3.4.1 - Efficiency

3.4.2 - Perfect Competition

3.4.3 - Monopolistic Competition

3.4.4 - Oligopoly

3.4.5 - Monopoly

3.4.6 - Monopsony

3.4.7 - Contestability

3.5.1 - Demand For Labour

3.5.2 - Supply Of Labour

3.5.3 - Wage Determination In Competitive & Non-competitive Markets

3.6.1 - Government Intervention

3.6.2 - The Impact Of Government Intervention

4.1.1 - Globalisation

4.1.2 - Specialisation & Trade

4.1.3 - Pattern Of Trade

4.1.4 - Terms Of Trade

4.1.5 - Trading Blocs & The World Trade Organisation (WTO)

4.1.6 - Restrictions On Free Trade

4.1.7 - Balance Of Payments

4.1.8 - Exchange Rates

4.1.9 - International Competitiveness

4.2.1 - Absolute & Relative Poverty

4.2.2 - Inequality

4.3.1 - Measures Of Development

4.3.2 - Factors Influencing Growth & Development

4.3.3 - Strategies Influencing Growth & Development

4.4.1 - Role Of Financial Markets

4.4.2 - Market Failure In The Financial Sector

4.4.3 - Role Of Central Banks

4.5.1 - Public Expenditure

4.5.2 - Taxation

4.5.3 - Public Sector Finances

4.5.4 - Macroeconomic Policies In A Global Context

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