This class was created by Brainscape user Lucas Maniglia Brigagao Perry. Visit their profile to learn more about the creator.
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Decks in this class (87)
1.1.1 - Economics As A Social Science
What type of science is economics 1,
What does economics study 2,
Why do economists build models 3
7
cards
1.1.2 - Positive & Normative Economic Statements
Describe positive statements 1,
Describe normative statements 2,
What is the role of value judgeme...
3
cards
1.1.3 - The Economic Problem
What is the basic economic problem 1,
How does scarcity have a direct i...,
What is a renewable resource 3
14
cards
1.1.4 - Production Possibility Frontiers
What does ppf stand for 1,
What does the ppf curve show 2,
What is on the axes of a ppf 3
13
cards
1.1.5 - Specialisation & The Division Of Labour
What is specialisation 1,
What are the advantages of specia...,
What are the disadvantages of spe...
13
cards
1.1.6 - Free Market, Mixed & Command Economies
What does the economic system aim...,
What is a free market economy 2,
What was adam smiths involvement ...
12
cards
1.2.1 - Rational Decision Making
Who are the economic agents what ...,
What is meant by utility 2,
What is meant by marginal 3
9
cards
1.2.2 - Demand
What is demand 2 points 1,
What does the law of demand state 2,
What do movements along the deman...
7
cards
1.2.3 - Price, Income & Cross Elasticities Of Demand
What is the law of demand 1,
What is ped 2,
How do you calculate ped 3
50
cards
1.2.4 - Supply
What is supply 1,
What does the law of supply state 2,
What do movements along the suppl...
12
cards
1.2.5 - Elasticity Of Supply
What is pes 1,
How do you calculate pes 2,
When will the pes figure be once ...
20
cards
1.2.6 + 1.2.7 - Price Determination & Price Mechanism
What is meant by free market 1,
How are prices determined in a fr...,
Where does equilibrium in a marke...
11
cards
1.2.8 - Consumer & Producer Surplus
What is consumer surplus cs 1,
Where is consumer surplus found 2,
Describe this consumer surplus gr...
9
cards
1.2.9 - Indirect Taxes & Subsidies
Describe indirect taxes 1,
Describe direct taxes 2,
What are the types of indirect ta...
18
cards
1.2.10 - Alternative Views Of Consumer Behaviour
0
cards
1.3.1 - Types Of Market Failure
When does market failure occur 1,
What are the causes of market fai...,
Describe negative positive extern...
6
cards
1.3.2 - Externalities
What happens at free market equil...,
Describe private costs pc 2,
Describe external costs ec 3
11
cards
1.3.3 - Public Goods
Describe private goods 1,
Describe pure public goods 2,
Describe non excludability of pur...
7
cards
1.3.4 - Information Gaps
Where do information gaps exist 1,
What is an underlying assumption ...,
What is symmetric information 3
7
cards
1.4.1 - Government Intervention In Markets
What are some reasons why governm...,
What are the types of government ...,
What are examples of indirect tax 3
4
cards
1.4.2 - Government Failure
0
cards
2.1.1 - Economic Growth
What is economic growth 1,
How is economic growth typically ...,
How can you determine economic ac...
24
cards
2.1.2 - Inflation
What are the 3 types of inflation 1,
What is inflation 2,
What is inflation rate 3
22
cards
2.1.3 - Employment & Unemployment
What does being unemployed mean 1,
What are the 2 measures of unempl...,
What is the labour force survey i...
23
cards
2.1.4 - Balance Of Payments
0
cards
2.2.1 - The Characteristics Of AD
What is aggregate demand ad 1,
Why is the ad curve downward slop...,
What is the wealth effect 3
8
cards
2.2.2 - Consumption
What is consumption 2 points 1,
What is mpc 2 points 2,
What factors can affect consumpti...
8
cards
2.2.3 - Investment
What is investment 2 points 1,
What is gross investment 2,
What is net investment 3
5
cards
2.2.4 - Government Expenditure
0
cards
2.2.5 - Net Trade (X-M)
0
cards
2.3.1 - The Characteristics Of AS
What is aggregate supply as 1,
What does the as curve look like 2,
Why is the as curve upward sloping 3
10
cards
2.3.2 - Short - Run AS
What is the position of the sras ...,
If there is an increase in costs ...,
If there is a decrease in costs o...
10
cards
2.3.3 - Long - Run AS
What is the lras influenced by 1,
What does the classical lras look...,
Why is lras vertical in the class...
13
cards
2.4.1 + 2.4.2 - National Income & Injections + Withdrawals
What is the circular flow of inco...,
What is the role of households in...,
What is the role of firms in the ...
11
cards
2.4.3 - Equilibrium Levels Of Real National Output
Where does macroeconomic equilibr...,
What do classical economists beli...,
What do keynesian economists beli...
3
cards
2.4.4 - The Multiplier
Blank 1
1
cards
2.5.1 - Causes Of Growth
What is economic growth 1,
What will cause short run growth ...,
What can be used to illustrate sh...
10
cards
2.5.2 - Output Gaps
When do output gaps occur 1,
When does a negative output gap o...,
What will a negative output gap l...
8
cards
2.5.3 - Trade (Business) Cycle
What does the trade cycle look li...,
What are the 4 stages of the trad...,
What is meant by recession 3
7
cards
2.5.4 - The Impact Of Economic Growth
What are the benefits of economic...,
What are the costs of economic gr...
2
cards
2.6.1 - Possible Macroeconomic Objectives
What are the 7 possible macroecon...,
Why do governments intervene in a...,
Describe the macroeconomic object...
11
cards
2.6.2 - Demand - Side Policies
What is the aim of demand side po...,
What are the 2 categories of dema...,
What is monetary policy 3
3
cards
2.6.3 - Supply - Side Policies
What are supply side policies 1,
If supply side policies are succe...,
What are the 2 groups of supply s...
16
cards
2.6.4 - Conflicts & Trade - Offs Between Objectives And Policies
0
cards
3.1.1 - Sizes & Types Of Firms
Why do firms grow 6 points 1,
Why do some firms remain small 2,
What are barriers to business gro...
12
cards
3.1.2 - Business Growth
What are the 2 types of business ...,
Describe organic internal growth 2,
What are the benefits of organic ...
21
cards
3.1.3 - Demergers
What is a demerger 1,
What are some reasons for why bus...,
What are the impacts of demergers...
5
cards
3.2.1 - Business Objectives
What are all the business objecti...,
Why would firms profit maximise 2,
What point does profit maximisati...
12
cards
3.3.1 - Revenue
What is revenue 1,
What is total revenue tr its form...,
What is average revenue ar its fo...
19
cards
3.3.2 - Costs
What does the law of diminishing ...,
What is marginal product mp how d...,
How do you calculate average prod...
31
cards
3.3.3 - Economies & Diseconomies Of Scale
What is eos 3 points 1,
What is increasing returns to sca...,
What are the 2 types of eos 3
24
cards
3.3.4 - Normal Profits, Supernormal Profits & Losses
Blank 1
1
cards
3.4.1 - Efficiency
What are the 4 business efficienc...,
Describe allocative efficiency 2,
What does it mean for a consumer ...
14
cards
3.4.2 - Perfect Competition
0
cards
3.4.3 - Monopolistic Competition
0
cards
3.4.4 - Oligopoly
0
cards
3.4.5 - Monopoly
0
cards
3.4.6 - Monopsony
When does a monopsony occur 1,
What are examples of monopsony s 2,
What is a monopsonist 3
22
cards
3.4.7 - Contestability
What is a contestable market 1,
What are the characteristics of a...,
What is hit run competition 3
18
cards
3.5.1 - Demand For Labour
Who demands labour 1,
Who supplies labour 2,
When the demand for labour the su...
18
cards
3.5.2 - Supply Of Labour
What is the key choice within the...,
What determines the shape of the ...,
What is the income effect 3
12
cards
3.5.3 - Wage Determination In Competitive & Non-competitive Markets
What are the characteristics of a...,
Blank 1
2
cards
3.6.1 - Government Intervention
0
cards
3.6.2 - The Impact Of Government Intervention
0
cards
4.1.1 - Globalisation
What is globalisation 1,
What has the integration of globa...,
What has increased globalisation ...
6
cards
4.1.2 - Specialisation & Trade
What does international trade do 1,
What is absolute advantage 2,
What is comparative advantage 3
16
cards
4.1.3 - Pattern Of Trade
0
cards
4.1.4 - Terms Of Trade
0
cards
4.1.5 - Trading Blocs & The World Trade Organisation (WTO)
What is a regional trading bloc 1,
What is a regional trading bloc a...,
What is economic integration 3
25
cards
4.1.6 - Restrictions On Free Trade
What does free trade aim to do 1,
What is protectionism 2,
What are the reasons for protecti...
20
cards
4.1.7 - Balance Of Payments
0
cards
4.1.8 - Exchange Rates
0
cards
4.1.9 - International Competitiveness
0
cards
4.2.1 - Absolute & Relative Poverty
What is absolute poverty 1,
What is relative poverty 2,
What does equity mean in economics 3
12
cards
4.2.2 - Inequality
0
cards
4.3.1 - Measures Of Development
What are characteristics of devel...,
What is economic development 2,
What is the difference between ec...
21
cards
4.3.2 - Factors Influencing Growth & Development
0
cards
4.3.3 - Strategies Influencing Growth & Development
0
cards
4.4.1 - Role Of Financial Markets
Blank 1
1
cards
4.4.2 - Market Failure In The Financial Sector
0
cards
4.4.3 - Role Of Central Banks
0
cards
4.5.1 - Public Expenditure
0
cards
4.5.2 - Taxation
0
cards
4.5.3 - Public Sector Finances
0
cards
4.5.4 - Macroeconomic Policies In A Global Context
0
cards
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A-Level Economics
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A Level Economics
- 50 decks
- 1987 flashcards
- 1128 learners
Decks:
Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
