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Liam Androne
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Decks in this class (40)
3.1.1 Sizes And Types Of Firms
Identify and explain 3 reasons wh...,
Identify and explain 3 reasons wh...,
What is a plc
10
cards
2.2.1-5 Aggregate Demand and Components
Define aggregate demand,
Identify the components of ad,
How significant are the component...
27
cards
1.2.3 Price, income, cross elasticises of demand
Define price elasticity of demand,
Define income elasticity of demand,
Define cross elasticity of demand
17
cards
1.2.4 Supply
What are the main determinants of...,
What does a point on the supply c...,
What would cause a movement along...
6
cards
1.2.5 Price Elasticity of Demand
Define pes,
What range of values are there fo...,
What is the formula for calculati...
4
cards
1.2.6 Price Determination and Price Mechanism
What is meant by market clearing ...,
What is meant by equilibrium,
In a competitive market what effe...
19
cards
1.2.9 Indirect Taxes and Subsidies
Define indirect tax,
Give 2 examples of indirect taxes,
What happens to producer incidenc...
8
cards
2.3.1 Aggregate Supply
Why is the as curve upward sloping,
What factors cause a movement alo...,
What is the relationship between ...
9
cards
1.2.10 Alternative Views of Consumer Behaviour
How might other peoples behaviour...,
How might habitual consumption be...,
Give an example where a consumer ...
4
cards
2.4.1-3 The Multiplier
Define the multiplier,
What is the formula for the multi...,
Define marginal propensity to con...
8
cards
2.5.1 Causes of growth
Explain the impact of investment ...,
Explain the impact of innovation ...,
Explain how migration affects eco...
18
cards
1.3.1 Externalities
What is meant by market failure,
What is meant by an externality a...,
Define negative externalities
14
cards
1.3.3 Public Goods
What are missing markets,
Define and give examples of publi...,
What are the characteristics of p...
4
cards
1.3.4 Information Gaps
What is meant by asymmetric infor...,
Give 3 examples of markets with a...,
In what way do information gaps g...
5
cards
1.4.1 Government intervention in Markets
Give 3 reasons for governments to...,
How can government intervention l...,
Name the 4 main methods of govern...
18
cards
2.6.3 Supply-side Policy
Define supply side policies,
Distinguish between market based ...,
Give 5 examples of supply side po...
4
cards
2.6.4 Government Trade-offs and Conflicts
What does the phillips curve show,
Does low employment have to confl...,
What is meant by a trade off
9
cards
2.1.2 Inflation
Define inflation,
What is meant by cpi inflation,
Explain at least 4 steps in the c...
11
cards
2.1.3 Unemployment
What does the term in employment ...,
What does the term unemployment l...,
What does the term unemployment r...
20
cards
3.5.1-2 Demand and Supply of labour
Define derived demand,
Define mpp marginal physical prod...,
What is the law of diminishing re...
24
cards
4.1.1 Globalisation
Define globalisation,
Give three examples of global com...,
Identify 4 characteristics of glo...
14
cards
3.5.3 Wage Determination
How does elasticity affect the im...,
Explain 3 labour laws that protec...,
Explain 2 possible solutions to a...
8
cards
4.2.1 Specialisation and Trade
Define law of comparative advantage,
Define absolute advantage,
Benefits of specialisation
7
cards
3.1.2-3 Business Growth and Demergers
What is meant by organic growth,
Where are the advantages and disa...,
What is meant by external growth
17
cards
3.2.1-2-3 Costs, Revenue, Profit and market structures
Define short run,
Define long run,
Define total product
17
cards
Patterns of Trade 4.1.3
Define patterns of trade,
Who are the uk s main trading par...,
Give 3 reasons why the pattern of...
4
cards
Economies of Scale
Define economies of scale,
What is meant by internal economi...,
What is meant by external economi...
10
cards
3.2.4 Normal and Supernormal Profits and Losses
Define normal profits,
Define opportunity cost,
Define supernormal profit
8
cards
4.14-6 Terms of Trade / Protectionism
What does the wto stand for and i...,
What are the four roles of the wto,
What is meant by a trading bloc
15
cards
3.4.2 Perfect Competition
Name 4 characteristics of a perfe...,
Give two examples of markets that...,
What other assumptions do we make...
6
cards
3.4.3 Monopolistic Competition
Define monopolistic competition,
Name 4 assumptions associated wit...,
Can firms in this market structur...
4
cards
Market Structure, Efficiency and Contestability
What is meant by a 3 firm ratio,
What does it mean if a market has...,
Give three examples of markets wi...
29
cards
4.1.8 Exchange Rates
What is meant by a fixed exchange...,
Why might a country want to fix i...,
What is meant by devaluation and ...
15
cards
3.4.6 Monopsony
Define monopsony,
What characteristics of monopsoni...,
Give two examples of markets that...
6
cards
3.4.7 Contestability
What is a contestable market,
What impact does contestability h...,
What is meant by sunk costs
9
cards
3.4.1 Efficiency
What is meant by productive effic...,
What is meant by allocative effic...,
What is meant by dynamic efficiency
7
cards
4.1.9 International Competitiveness
What are the two main measures of...,
What is meant by the real exchang...,
What is meant by the sterling eff...
11
cards
3.2.1 Business Objectives
What is meant by profit maximisin...,
Define revenue maximisation,
When might a firm conduct revenue...
7
cards
4.4.1 The Role of Financial markets
What are the five roles of financ...,
Identify 3 examples of financial ...,
Why are financial markets important
15
cards
3.6.1 Government Intervention
Who are the main regulatory bodie...,
What are the main 3 pillars of th...,
What must be the combined market ...
19
cards
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Economics
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