Theme 1 Flashcards
1
Q
Positive Statements
A
2
Q
Normative Statements
A
3
Q
Ceteris Paribus
A
4
Q
Law Of Demand
A
5
Q
Positive Economics
A
5
Q
Normative Economics
A
6
Q
Scientific Method
A
7
Q
Social Science
A
8
Q
Theory Or Model
A
9
Q
Base Period
A
10
Q
Index Number
A
11
Q
Nominal Values
A
12
Q
Real Values
A
13
Q
Basic Economic Problem
A
14
Q
Capital
A
15
Q
Choice
A
16
Q
Economic Goods
A
17
Q
Entrepreneurs
A
18
Q
Enterprise Or Entrepreneurship
A
19
Q
Factors Of Production
A
20
Q
Fixed Capital
A
21
Q
Free Goods
A
22
Q
Human Capital
A
23
Q
Labour
A
24
Land
25
Needs
26
Non-Renewable Resources
27
Non-Sustainable Resources
28
Opportunity Cost
29
Renewable Resources
30
Scarce Resources
31
Sustainable Resources
32
Wants
33
Working Or Circulating Capital
34
Fixed Capital
35
Production Possibility Curve/Frontier (PPC/F)
36
Capital Goods
37
Consumer Goods
38
Allocatively Efficient
39
Productive Efficiency
40
41
Margin
42
Productivity
43
Labour Productivity
44
Capital Productivity
45
Specialisation
46
Division Of Labour
47
Public Sector
48
Private Sector
49
Primary Sector
50
Secondary/Manufacturing Sector
51
Tertiary/Service Sector
52
Markets
53
Barter
54
Money
55
Money Substitutes
56
Productivity
57
Sub-Market
58
Command/Planned Economy
59
Economic System
60
Market/Free Enterprise Economy
61
Mixed Economy
62
Economic Welfare
63
Macroeconomics
64
Microeconomics
65
Neo-Classical Theory
66
Utility Or Economic Welfare
67
Conditions Of Demand
68
Consumer Surplus
69
Contraction Of Demand
70
Demand Curve
71
Demand Or Effective Demand
72
Extension Of Demand
73
Law Of Diminishing Marginal Utility
74
