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Micro Economics > benefits of specilisation and division of labour > Flashcards

benefits of specilisation and division of labour Flashcards

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Micro Economics (57 decks)

Law of Diminishing Returns

Fixed and Variable Costs (AFC, TFC, AVC)

Marginal Costs & Average Costs

Total Cost Curves in the SR (TFC, TVC, TC)

Economies and Diseconomies of Scale

OBJECTIVES OF FIRMS: Profit maximisation

OBJECTIVES OF FIRMS: Profit /Satisficing

OBJECTIVES OF FIRMS: Revenue Maximsation

OBJECTIVES OF FIRMS: SALES/GROWTH MAX

OBJECTIVES OF FIRMS: Survival

OBJECTIVES OF FIRMS: Public Sector Org

OBJECTIVES OF FIRMS: Corporate Social Responsibility

Barriers To Entry

Barriers to Exit

MRP - DEMAND FOR LABOUR

LABOUR MARKET - LABOUR DEMAND CURVE - FIRM AND INDUSTRY

LABOUR MKT - CRITISISM OF MRP

LABOUR MKT - Labour Demand Curve Shifts

LABOUR MKT - elasticity of labour demand

LABOUR MARKET - INDIVIDUAL LABOUR SUPPLY CURVE - BACKWARDBENDING

DISTRIBUTION OF INCOME/WEALTH AND POVERTY - Reasons for Income & Wealth Inequality

DISTRIBUTION OF INCOME/WEALTH AND POVERTY - TYPES AND CAUSES of poverty

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

DISTRIBUTION OF INCOME/WEALTH AND POVERTY -

benefits of specilisation and division of labour

monopolistic competition

price discrimination

regulatory capture

perfect competition

nationalisation

TECHNOLOGICAL CHANGE

nautral monopoly

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