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Decks in this class (36)
3.1.1 - SIzes and types of firms
Why do firms seek growth 5,
Why is profit a reason for a firm...,
Costs as a reason for a firm s gr...
22
cards
3.1.2a/b - Business growth
How do businesses grow,
Define organic growth,
Pros and cons of organic growth
18
cards
3.1.2c
List four constraints on business...,
How is size of the market a const...,
Access to finance as a constraint...
5
cards
3.1.3
Reasons for demergers,
Check cgp page 56 for demerger de...,
Effects of demergers on businesses
5
cards
3.3.1 - Revenue
Define revenue maximisation,
Define total revenue,
Define average revenue
18
cards
3.3.2 - Costs
Define short run,
Why is one fop fixed in the short...,
Define long run
26
cards
3.3.3
What happens in long run,
What are constant returns to scale,
What are increasing returns to scale
23
cards
3.3.4 - Normal profits, supernormal profits and losses
What is marginal profit,
Define normal profit,
Define profit
17
cards
3.2.1 - Business Objectives
When does revenue maximisation occur,
Difference between profit and rev...,
Where does sales maximisation occur
19
cards
3.4.1 - Efficiency
State 4 types of efficiency,
Describe productive efficiency,
Equation for productive efficiency
11
cards
3.4.2 - Perfect Competition
State 6 assumptions regarding per...,
Why is perfect competition ideal,
What is the assumption regarding ...
22
cards
3.4.2 - contd: diagrammatic analysis of perfect competition
What is a an important assumption...,
Why is demand curve a horizontal ...,
Why is mc mr profit maximisation
9
cards
3.4.5 - Monopoly
Define monopoly,
Define barriers to entry,
What are the three assumptions of...
19
cards
3.4.3 - Monopolistic competition
Define monopolistic competition,
Define non price competiton,
Define price maker
15
cards
Barriers to entry and miscellaneous
Define barrier to entry,
Four types of b to entry,
5 legal barriers to entry
13
cards
3.4.5d - Price discrimination
Define price discrimination,
What are the conditions needed fo...,
Examples of price discrimination
11
cards
3.5.1 - Demand for Labour
Define derived demand,
Define human capital,
Define incentive scheme
21
cards
3.5.2 - Labour supply
What is the income effect,
What is the substitution effect,
What is individual labour supply
25
cards
Labour discrimination
What are zero hours contracts,
Why does zero hour contracts redu...,
What is the gender pay gap
23
cards
3.4.4 Oligopoly part 1
Define concentration ratio,
How do you calculate the n firm c...,
4 key characteristics of an oligo...
29
cards
3.4.4 - Oligopoly part 2
3 types of price competition,
Define price war,
Define limit pricing
21
cards
3.4.4 - oligopoly part 3
Describe prisoners dilemma,
Define dominant strategy,
Define first mover advantage
6
cards
3.5.3 - wage determination in competitive and non-competitive markets
Define geographical immobility,
Define occupational immobility,
Define elasticity of labour demand
30
cards
3.4.7 - Contestability
Define sunk costs,
Characteristics of a contestable ...,
Result of contestable markets
25
cards
3.4.6 - Monopsony
Define monopsony,
Examples of monospony,
What is a characteristic of a mon...
22
cards
3.6.1b - Government intervention
4 methods of government intervent...,
Define competition policy,
Define anti competitive practices
29
cards
Examples Of Monopoly Regulation
What are the big 6 energy compani...,
What is the energy price cap,
What are the two ways of paying f...
13
cards
3.6.1a Government regulation
Under what conditions does cma in...,
Define turnover,
Give an example of cma merger inv...
12
cards
3.6.1c - government intervention
4 types of government interventio...,
Define competitive tendering,
Define deregulation
34
cards
3.6.1c - part 2 gov intervention
Pros of nationalisation,
Cons of nationalisation,
Restrictions on monopsony power
24
cards
3.6.2 - impact of government intervention
Limit to government intervention,
Why does excessive adminstrative ...,
Common causes of government failure
26
cards
UK food delivery market
Describe food delivery market,
How many people use it,
Main competitors by food app down...
12
cards
uk water industry
Describe water industry,
Key figures of water and wastwate...,
Examples of regulation in water i...
9
cards
labour market
Key issues in labour markets,
What is trade union,
What is the assumption of a close...
30
cards
Market failure 2024
New intervention on vaping,
Evaluate intervention for vaping,
Why else are vapes bad
23
cards
Micro 1
Arguments for water privatisation,
Evaluate the idea that profit mot...,
Arguments for privatisation
11
cards
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Econ Theme 3
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