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Karen Pugh
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Decks in this class (22)
Microeconomics Unit 1.1 Economic Problem
Scarcity,
Explain this graph,
What is a free good
27
cards
Microeconomics- Unit 3.1 Business Objectives
Paper 1
20
cards
Microeconomics 1.2
What is resource allocation,
Capitalism,
Adam smith
18
cards
Unit 3.2 Microeconomics
Costs, economics of scale, revenue and profit
34
cards
1.3 Opportunity Cost
Opportunity cost,
Trade off,
Production possibility curve
19
cards
Market structures- Topic 4
Market stucture with many buyers ...,
Perfect competition,
Price taker
11
cards
Units 2.2, 2.3, 2.4, 2.5 Demand, Supply and Market Equilibrium
The operation of the market
45
cards
4.1 Perfect Competition
Perfect competition,
Price taker,
Homogenous products
13
cards
4.2 Monopolies
Monopoly,
Monopoly power,
Barriers to entry
20
cards
Monopolistic Competition and Oligopoly
Monopolistic competition,
Characteristics of monopolistic c...,
Type of profits firms in monopoli...
23
cards
2.6 Microeconomics Elasticities of demand
Elasticity,
Price elasticity of demand,
Ped is calculated by
49
cards
2.6 Microeconomics Price Elasticity of Supply
Price elasticity of supply,
Pes 0,
Pes 1
15
cards
Microeconomics 4.5
Contestable Markets
21
cards
Microeconomics 5.1-5.3 Labour Market
The Labour Market
41
cards
2.7 Microeconomics The Concept of the Margin
The margin,
Marginal utility,
Total utility
15
cards
2.8 Microeconomics Market Failure
Market failure,
Socially optimal allocation,
Marginal social benefit
25
cards
Microeconomics 2.9 Information Failure
Information failure,
Asymmetric information,
Merit good
8
cards
Microeconomics 2.10 Public Goods
Public goods,
Non rejectable,
Non rivalrous
16
cards
Microeconomics 2.11 Government Intervention
Direct taxation,
Indirect taxation,
Indirect and inelastic ped
35
cards
Macroeconomics 1.1 Circular Flow of Income
Circular flow of income,
National income,
National output
12
cards
Macroeconomics 1.2 Aggregate Demand
Aggregate demand,
Consumption,
Investment
19
cards
Macroeconomics 1.3 Aggregate Supply and the interaction of AD and AS
Short run aggregate supply curve,
Neoclassical economists,
Monetarist school
16
cards
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A-Level Economics
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