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jasper p
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Decks in this class (17)
Supply and the supply curve
What is supply,
What is the relationship between ...,
What does the law of supply state
8
cards
Sac
0
cards
Nature and conditions of a perfectly competitive market #2
What are the conditions of a perf...,
How does assessing the level of c...,
Homogenous products
7
cards
Demand and the factors affecting demand curve
Define demand,
What does the law of demand state,
What is disposable income
8
cards
Supply factors that influence supply curve
What are the factors which affect...,
Climatic conditions and the impac...,
Costs of production and the affec...
8
cards
KEY DEFINITIONS
Relative prices,
Allocative efficiency,
Productive efficiency
84
cards
Price elasticity of demand and its factors
When is the ped inelastic,
When is the ped elastic,
What are the ped factors
8
cards
Price elasticity of supply and its factors
What is the price elasticity of s...,
What is the price elasticity of s...,
What constitutes an inelastic supply
15
cards
Market competition and its affects
When market competition is presen...,
How is allocative efficiency affe...
2
cards
SAC 2 KEY TERMS AND DEFINITIONS
Market failure,
Private costs,
Social costs
16
cards
Government intervention
Government intervention policies
1
cards
AOS2 key terms
Economic activity,
Aggregate demand,
Aggregate supply
5
cards
U3 AOS3 Australia's BOP
Comparative advantage,
Absolute advantage,
International trade
29
cards
U4 AOS1 Budgetary and monetary policy
Monetary policy,
Budgetary policy,
Countercyclical
7
cards
EXAM KEY FIGURES
2020 2021 real gdp growth figures,
Unemployment,
20 21 participation rate figures
9
cards
EXAM CASE STUDIES
Aggregate demand budgetary policy...,
Aggregate demand budgetary policy...,
Aggregate demand budgetary policy...
17
cards
FACTORS AFFECTING: EXAM STUDY
Factors likely to affect demand,
Factors likely to affect supply,
Factors affecting price elasticit...
11
cards
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economics
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