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Aron Kovacs
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Decks in this class (32)
Economics as a social science
What is economics,
What is ceteris paribus,
Why is it impossible to make scie...
13
cards
PPF
What is ppf,
What are capital goods,
What are consumer goods
12
cards
Specialisation and division of labour
What is the division of labour,
What was adam smith stance on the...,
What are the advantages of divisi...
7
cards
Free market, mixed and command economies
What is a free market economy,
What are the main characteristics...,
Who were the 2 economists in favo...
13
cards
Demand
What is demand,
What is the shape of the demand c...,
What is the substitution effect
27
cards
Supply
What is supply,
What is the shape of the supply c...,
What causes movement along the su...
13
cards
Price determination
What is the equilibrium,
What is the equilibrium determine...,
What is excess supply
5
cards
Price mechanism
What are the key functions of pri...,
What different types of markets a...
2
cards
Consumer and Producer surplus
What is consumer surplus,
What is producer surplus,
Where is the consumer surplus
6
cards
Indirect taxes and subsidies
What is,
What are examples of an indirect tax,
What do these taxes cause
9
cards
Alternative views of consumer behaviour
What is behavioural economics,
What are reasons why consumers ma...,
What is the key implication of be...
3
cards
Market failure
What is the meaning of market fai...,
What are the different types of m...,
What are the reasons for market f...
20
cards
Non-provision of public goods
What are public goods,
What,
W
4
cards
Information gaps
What is symmetric information,
What is asymmetric information,
What are examples for asymmetric ...
3
cards
Government intervention
What are indirect taxes,
Examples of indirect taxes,
What do they cause
33
cards
Economic Growth (MAC)
What,
What does real mean,
What is gdp
19
cards
Inflation (MAC)
What is inflation,
What is deflation,
What is disinflation
20
cards
Employment and unemployment (MAC)
What are measures of employment,
What is the jobseekers allowance,
What is unemployment
19
cards
Balance of payments (MAC)
What is the balance of payments,
What is the current account,
W
9
cards
Aggregate demand (MAC)
What does aggregate demand mean,
What is the formula of ad,
What are the importance of the co...
26
cards
Aggregate supply (MAC)
What is aggregate supply,
What is the sras,
What causes a movement in the as ...
9
cards
National income (MAC)
What is national income,
How is the circular flow of incom...,
What is wealth
23
cards
Economic growth (MAC)
What is actual growth,
What is real gdp,
What is the output gap
20
cards
Macroeconomic objectives and policies (MAC)
What are the main macroeconomic o...,
What is a demand side policy,
What are the two types of demand ...
22
cards
Revenue (new)
What are revenues,
What are the 3 fundamental revenu...,
What is tr
13
cards
Costs (new)
What is the short run,
What is the long run,
What is total product
20
cards
Profit
What is economic profit,
What is abnormal supernormal profit,
What is normal profit
7
cards
Globalisation (MAC)
What is globalisation,
What is foreign direct investment,
What are the key characteristics ...
15
cards
Specialisation and trade (MAC)
What is absolute advantage,
What is comparative advantage,
What is the law of comparative ad...
6
cards
Trading blocs and the WTO (MAC)
What is a trading bloc,
Examples for trading blocs,
What are the types of trading blocs
9
cards
Restrictions on free trade (MAC)
What are the reasons for restrict...,
What are the types of restriction...,
What is a tariff
11
cards
Perfect competition
1
cards
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Econ Summer
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