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By:
David Gill
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Decks in this class (15)
Chapter 1 - Fundamental economic concepts
Relative scarcity,
Land resources,
Labour resources
11
cards
Chapter 2 - An introduction to microeconomic and the role of markets
Microeconomics,
Three conditions required for a p...,
Law of demand
12
cards
PED - Price elasticity of demand
Price elasticity of demand,
High ped,
Low ped
10
cards
PES - Price elasticity of Supply
Price elasticity of supply,
High pes,
Low pes
8
cards
Market failure
Allocative efficiency,
Technical efficiency,
Dynamic efficiency
11
cards
Market failure definitions
Allocative efficiency,
Technical efficiency,
Dynamic efficiency
11
cards
Living standards definitions
Material living standards,
Non material living standards,
Economic growth
9
cards
Living standards
Material living standards,
Non material living standards,
Factors affecting living standards
7
cards
International trade definitions
Exports and imports,
Balance of payments bop,
Current account ca
8
cards
The current account
Four parts of the ca,
Balance on merchandise trade,
Net services
5
cards
The capital and financial account
Five components of cafa,
Net portfolio investment,
Net direct investment
6
cards
International trade effects
Benefits of purchasing imports on...,
Benefits of selling exports on li...,
Economies of scale and internatio...
9
cards
Budgetary policy
Government revenues,
Government expenditures,
Budgetary policy initiatives
5
cards
Definitions - Budget
Inflation,
Full employment,
Economic growth
12
cards
Monetary policy - definitions
Monetary policy,
Cash rate,
Omos
17
cards
More about
Economics
- Class purpose General learning
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