This class was created by Brainscape user Matthew Hart. Visit their profile to learn more about the creator.
By:
Matthew Hart
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Decks in this class (48)
1.1 - The Economic Problem
What are economic goods,
What are free goods,
What is the basic economic problem
23
cards
1.2 - The allocation of resources
What are market economies,
In a market economy what to produ...,
In a market economy who to produc...
34
cards
1.3 - Opportunity cost
What gives rise to opportunity cost,
What is opportunity cost,
What is a trade off
16
cards
2.1 - Specialisation and Trade
What is the division of labour,
What is specialisation,
What does specialisation enable f...
16
cards
2.2 - Demand
What is a market,
What is demand,
What is derived demand
25
cards
2.3 - Supply
What is supply,
What is joint supply,
What is composite supply
13
cards
2.4 - Consumer and Producer Surplus
What is consumer surplus,
What is producer surplus,
What is the total surplus
3
cards
2.5 - The interaction of markets
What does ceteris paribus mean,
What is the equilibrium,
What is the equilibrium price
10
cards
2.6 - Elasticity
What does elasticity measure,
What is the equation for price el...,
What does ped equal for elastic d...
54
cards
2.7 - The concept of the margin
What is margin,
What is marginal tax,
What is marginal product
20
cards
2.8 - Market failure and externalities
What is market failure,
When are resources misallocated,
What is complete market failure
23
cards
2.9 - Information failure
What does symmetric information mean,
What can symmetric information le...,
What does asymmetric information ...
13
cards
2.10 - Public goods
What is a public good,
What are the 2 characteristics of...,
What does the non rivalry mean
9
cards
2.11 - Government intervention
In a market based economy what do...,
What might happen if a consumer h...,
What may be used to encourage the...
99
cards
3.1, 3.2,3.3 Business Objectives, Costs And Economies Of Scale, And Revenue And Profit
What is business objectives,
What are the maximisation objectives,
What is profit maximisation
41
cards
4.1 Perfect Competition
What is perfect competition,
What are the key assumptions,
What is short run perfect competi...
6
cards
4.2 Monopoly
What is a monopoly,
What are the characteristics of a...,
What is the diagram of a monopoly
15
cards
4.3 Monopolistic Competition
What is monopolistic competition,
What are the characteristics,
Show a diagram for short run and ...
6
cards
4.4 Oligopoly
Oligopoly,
What are the characteristics of a...,
What are sticky prices
12
cards
4.5 Contestable Markets
0
cards
5.1 Demand For Labour
0
cards
5.2 Supply Of Labour
0
cards
5.3 Interaction Of Labour Markets
0
cards
1.1 Circular flow of income
What is the circular flow of income,
How can the size of the economy b...,
Are there any problems with measu...
5
cards
1.2 Aggregate demand
What is aggregate demand,
What are the main components of a...,
What is the relationship between ...
9
cards
1.3 Aggregate Supply
What are the main components of a...,
What is the short run aggregate,
What can change the shift in sras
7
cards
1.4 Interaction of aggregate Demand and supply
What is the macroeconomic equilib...,
Explain short run macroeconomic e...,
What are the effects of a change ...
7
cards
1.5 The multiplier and the Accelerator
What is the national income multi...,
What factors determine the size o...,
How is the size of the national i...
19
cards
2.1 Economic Growth
What is economic growth,
What is short run economic growth,
What is long run economic growth
18
cards
2.2 Economic Development
What is economic development,
What is the structure of the economy,
What is economic development in r...
14
cards
2.3 Employment
What is employment and how is it ...,
How can unemployment be broken down,
What is labour market participati...
25
cards
2.4 Inflation
What are the different types of i...,
What is the policy objective of l...,
What is the uk inflation target
11
cards
2.5 Balance of Payments
What are the components of the ba...,
Explain balance of payments,
How does the balance of payments ...
12
cards
2.6 Trends in Macroeconomic indicators
0
cards
2.7 Income distribution and Welfare
What is income,
What is wealth,
What income can be earned from ea...
14
cards
2.8 The Philipps Curve
What is the philipps curve,
Explain the concept of the philli...,
What is stagflation
8
cards
3.1 Fiscal Policy
What is fiscal policy,
What are the objectives of fiscal...,
What are the two types of fiscal ...
30
cards
3.2 Monetary Policy
What is monetary policy,
What is the monetary transmission...,
What is the central bank and what...
15
cards
3.3 Supply-side policy
What is a supply side policy,
What is productive capacity
2
cards
3.4 Policy Conflicts
What are the macroeconomic policy...,
What are the possible conflicts o...,
What are the possible conflicts f...
7
cards
4.1 International Trade
0
cards
4.2 Exchange rates
0
cards
4.3 Globalisation
What is globalisation,
What are the causes of globalisation,
What is a trade barrier
6
cards
4.4 trade policies and negotiations
What is protectionism,
What is a trading bloc,
What is a tariff
24
cards
5.1 Money and interest rates
0
cards
5.2 the financial Sector
0
cards
5.3 Financial regulation
0
cards
Macro Diagrams
15
cards
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economics
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