A-level Micro Writing Prompts (POPSICLE) Flashcards
1
Q
P - price
A
Price for consumers
2
Q
O - output
A
Production for individuals firms / sector
3
Q
P - profits
A
Supernormal, normal, subnormal
4
Q
S - structure of the market
A
Oligopoly, monopoly, contestable
5
Q
I - inefficiency
A
Allocative, productive, dynamic & x
6
Q
C - competition
A
Price & non-price competition
7
Q
L - labour markets
A
Impact on level / pattern of job wages
8
Q
E - externalities
A
Effects on social costs & benefits
