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Econ AS level

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

By: Venu Ranasinghe
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Decks in this class (18)

Micro & Macro economics
Learn all about Basic economic ideas and resource allocation
39  cards
Economic systems
What are the 3 basic economic que...,
What s a free market economy,
What s a command economy
26  cards
GDP
What is gdp,
What are the three ways of measur...,
How does the output method work
9  cards
Economic Growth
What is economic growth,
What s economic development,
What is sustainable development
3  cards
Production Possibility Curves PPC
What is a production possibility ...,
What does a ppc illustrate,
What assumptions are made when dr...
25  cards
Classification of good and services
What are merit goods,
What are demerit goods,
What are private goods
11  cards
Demand
What is demand,
Describe the law of demand,
Whats the demand equation
16  cards
Supply
What is supply,
Describe the law of supply,
What s the supply equation
14  cards
Market equilibrium
What is equation to find the mark...,
When does an excess supply occur,
When does a shortage occur
9  cards
Principles of International Trade
What is trade,
What are advantages of internatio...,
What are some disadvantages of fr...
24  cards
Government Aims and Types of Policies
What are the common government ma...,
What is full employment,
What is price stability
33  cards
Elasticity
What is price elasticity of deman...,
How do we measure ped,
What is inelastic ped
41  cards
Protectionism
What is protectionism,
What are methods of protectionism,
What are the factors in favor of ...
10  cards
Maximum Prices and Minimum Prices
What s maximum price,
Why are maximum prices set,
What are the conditions of a maxi...
13  cards
Taxes and subsidies
Why are taxes imposed,
What are direct taxes,
What are the canons of taxation
15  cards
AD and AS
What is aggregate demand,
What is the ad fromula,
What are the factors affecting co...
19  cards
Balance of payments
What is the balance of payments,
What is the current account,
What are examples of trade in goods
11  cards
Exchange rate
What is the exchange rate,
How is the exchange rate determin...,
Why is the demand curve sloping d...
16  cards

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Econ AS level

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