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Decks in this class (39)
1.0. Economic Efficiency
Economic efficiency static effici...,
Features of economic efficiency,
Productive efficiency
11
cards
1.1. Costs and Benefits
Social costs,
Private costs,
External costs
18
cards
1.2. Cost benefit analysis
Cba,
Cba definition,
Social costs consist of
12
cards
1.3. Market Failure and Externalities
Market failure,
Reasons for market failure,
Geographical immobility
15
cards
1.4. Government intervention to correct market failure
Methods of government interventio...,
Indirect taxes,
Subsidies
34
cards
2.0. Law of Diminishing Marginal Utility
Law of diminishing marginal utili...,
How does human nature explain mar...,
Law of diminishing marginal utili...
16
cards
2.1. Equi-marginal Principle
Equimarginal principle,
Mu a p a,
What happens when the equi margin...
10
cards
2.2. Indifference Curves and Budget Lines
Indifference curve,
Indifference,
How indifference is shown on indi...
19
cards
2.3. Indifference Curve Analysis
Consumer equilibrium,
3 ways to find out consumer equil...,
Consumer equilibrium for dmu
26
cards
2.4. Production and Costs in the Short Run
Production definition,
Time periods short run,
Total product
19
cards
2.5. Production and Costs in the Long Run
Time period long run,
Time period very long run,
Deriving the long run average cos...
23
cards
2.6. Revenue and Profit
Total revenue tr,
Total revenue,
Average revenue ar
20
cards
2.7. Market Structures
Types of market structures,
Market structures with imperfect ...,
Comparing market structures bbinnp
11
cards
2.8. Perfect Competition + Contestable Markets
Perfect competition assumptions,
Perfect competition revenue curves,
Long run equilibrium normal profi...
18
cards
2.9. Monopoly
Monopoly,
Monopolist,
Pure monopoly
22
cards
2.10. Monopolistic Competition
Monopolistic competition assumptions,
Monopolistic outcomes,
Monopolistic competition examples
8
cards
2.11. Oligopoly
Oligopoly assumptions,
Non collusive oligpoly,
Significance of non price price c...
3
cards
2.12. Growth and Survial of Firms
Reasons for small firms,
Reasons for growth of firms,
Internal growth organic growth
12
cards
2.13. Objectives of Firms
Profit maximisation,
Revenue maximisation,
Sales maximisation
24
cards
3.1. Demand for Labour
Derived demand,
Demand for labour,
Total physical product
18
cards
3.2. Supply of Labour
Individual worker s supply of labour,
Individual worker s supply of lab...,
Individual worker s supply of lab...
28
cards
3.3. Wage Determination in a Labour Market and Perfect Imperfect Labour Market
Labour market equilibrium curve draw,
Equilibrium in labour markets,
Why are there changes in market w...
28
cards
3.4. Policies towards income and wealth redistribution
What does equity mean,
Horizontal equity,
Vertical equity
25
cards
4.0. Government macro policy aims
The main government macroeconomic...,
Guilt ex main government macroeco...,
Other government macroeconomic aims
22
cards
4.1. Economic growth, economic development and sustainability
Economic growth,
Short term actual growth,
Long term growth
30
cards
4.2. National Income Statistics
National income definition,
3 measures of national income,
Gross domestic product gdp defini...
31
cards
4.3. Indicators of Living Standards
Economic development meaning,
Monetary indicators,
Non monetary indicators
24
cards
4.4. Characteristics of development
Economic development definition,
Developing economies,
Emerging economies brics
16
cards
4.5. Development Policies
Development policies,
Bilateral aid,
Multilateral aid
28
cards
4.6. Employment and Unemployment
Employment,
Unemployment,
Unemployment rate
53
cards
4.7. Unemployment Policies
Unemployment policies,
Reflationary expansionary fiscal ...,
Reflationary expansionary fiscal ...
14
cards
4.8. The Phillips Curve
The phillips curve meaning,
The phillips curve diagram draw d...,
The phillips curve background
11
cards
4.9. Circular Flow of Income
Circular flow of income models,
Circular flow of income simple model,
Circular flow of income two secto...
16
cards
4.10. Aggregate Expenditure (AE)
Aggregate expenditure,
Aggregate expenditure formula,
Aggregate expenditure curve
42
cards
4.11. Equilibrium national income
Equilibrium national income,
3 approaches to equilibrium natio...,
Aggregate demand and aggregate su...
9
cards
4.12. Money supply (theory)
The quantity theory of money show...,
The quantity theory of money equa...,
The quantity theory of money concept
18
cards
4.13. Keynesian and Monetarist Schools
Key proponent of the keynesian view,
Key proponent of the monetarist view,
Market equilibrium in keynesian a...
25
cards
4.14. Demand for Money, Interest Rate Determination and Paradox of Thrift
Liquidity preference theory defin...,
Liquidity preference theory shows...,
Transactions motive
24
cards
4.15. Policies towards Developing Economies; Policies of Trade and Aid
Government macro policy aims,
Low inflation aim conflicts,
Balanced budget aim conflicts
4
cards
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(Read Bio!) Edexcel A Economics A Level
- 15 decks
- 2291 flashcards
- 56 learners
Decks:
11 12 Nature Of Economics And How Market, 13 4 Market Failure Gov Intervention, Behavioural Economics, And more!
