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A HL Economics 2024/2025

This class was created by Brainscape user Holly Sawyer. Visit their profile to learn more about the creator.

By: Holly Sawyer
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Decks in this class (19)

What is Economics?
What is social science,
What is economics,
Opportunity cost
48  cards
Demand
Market,
Marginal utility,
As we increase the purchase of a ...
31  cards
Demand Elasticity
Elasticity,
Price elasticity of demand,
What is price elasticity affected by
31  cards
Economic Thinking (not usually assessed)
What was adam smith s basic ideas,
What is laissez faire economics,
19th century evolution of micro a...
7  cards
Supply and Supply Elasticity
Supply,
Law of supply,
What does a movement along the su...
23  cards
Market Equilibrium
A,
Market forces,
What will changes in supply or de...
10  cards
Government Intervention
Indirect tax,
Specific tax,
Percentage ad valorem tax
20  cards
Market Failure
Market failure,
Externalities,
Marginal private benefit
43  cards
Rational Producer Behaviour
Explicit costs,
Implicit costs,
Revenue
38  cards
Market Power - Perfect / Monopolistic Competition
Market power,
Four major market forms,
Perfect competitor characteristics 5
17  cards
Market Power - Monopoly and Oligopoly
Monopoly characteristics,
Barriers to entry in a monopoly 5,
Barriers to entry in a monopoly e...
31  cards
The Overall Level of Economic Activity
Macroeconomics,
Economic growth,
Employment
27  cards
Aggregate Demand
What is shown on an aggr,
Changes in consumption factors 5,
Investment
8  cards
Aggregate Supply
Aggregate supply,
Short term aggregate supply facto...,
Change in price level causes
10  cards
Macroeconomic Equilibrium
Short run equilibrium,
Long run equilibrium new classica...,
New classical view of ad pl
4  cards
Demand Management - Demand Side Policies
Fiscal policy,
Expansionary fiscal policy,
Contractionary fiscal policy
21  cards
Supply-Side Policies
What are supply side policies,
Goals of supply side policies 5,
Types of supply side policies
6  cards
Low Unemployment
Unemployment,
Unemployment rate calculation,
Labour force
15  cards
Definitions
Interventionist supply side policies,
Supply side policies,
Fiscal policy
63  cards

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A HL Economics 2024/2025

  • Class purpose General learning

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