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Microeconomics
> The law of diminishing returns > Flashcards
The law of diminishing returns Flashcards
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Microeconomics
(55 decks)
Key terms
Key terms pt2
Economic methodology
The nature and purpose of economic activity
Scarcity, choice and allocation of resources
The economic problem
Production possibility frontier
Determinants of Demand
Elasticities of demand- PED's
XED's
YED's
Determinants of supply
Supply elasticities
Supply elasticities pt2
Market equilibrium
Chain of reasoning
Interrelationships between markets
Production and productivity
Specialisation, Divisions of labour and exchange
Cost of production
Cost of production pt2
Cost of production pt3
Economies and diseconomies of scale
Economies and diseconomies of scale pt2
Economies and diseconomies of scale pt3
Revenue and profit
Market structures
Market structures pt2
Monopolies
Monopolies pt2
Public, Private and Quasi-Public goods
Externalities
Merit and demerit goods
Resource allocation
Market failure
Market failure pt2
Government intervention
Government intervention pt2
Government intervention application
Possible evaluative ideas for government intervention
Government failure
15 Mark corrections
15 mark corrections pt2
15 mark corrections pt3
15 mark corrections pt4
Corrections
Behavioural Economics
Behavioural economics pt2
Demand Elasticities Recap
XED and YED Recap
MPC
The multiplier
Costs of Production in the SR
The law of diminishing returns
The law of diminishing returns
