This class was created by Brainscape user Riley Southgate. Visit their profile to learn more about the creator.
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Riley Southgate
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Decks in this class (21)
1.1 - Nature of economics
Define the term ceteris paribus 1,
What is a positive economic state...,
What is a normative economic stat...
38
cards
1.2 - How markets work
How do consumers act rationally 1,
How do producers act rationally 2,
What is demand 3
81
cards
1.3 - Market failure
What is the definition of market ...,
Why does market failure occur 2,
What are the 3 market failures co...
27
cards
1.4 - Government intervention
What are indirect taxes 1,
In which direction do indirect ta...,
What may indirect taxes be used t...
25
cards
2.1 - Measures of economic performance
What is economic growth 1,
What is gross domestic product gdp 2,
What does the term real mean 3
61
cards
2.2 - Aggregate demand
What is the definition of aggrega...,
What are the components of ad 2,
What proportion of ad is made up ...
18
cards
2.3 - Aggregate supply
What is aggregate supply as 1,
What is the shape of the short ru...,
What causes movement along an as ...
10
cards
2.4 - National income, output and expenditure
What is national income 1,
What is the circular flow of inco...,
What is the difference between we...
24
cards
2.5 - Economic growth
What is actual economic growth 1,
What is potential economic growth 2,
What are the 2 factors that could...
22
cards
2.6 - Macroeconomic objectives and policies
What are the 7 macroeconomic obje...,
Which are the main 4 macroeconomi...,
What is a demand side policy 3
35
cards
3.1 Business growth
What is a firm 1,
What are economies of scale 2,
Name 4 reasons why some firms rem...
30
cards
3.2 Business objectives
What are the two ways in which pr...,
Explain the reasoning behind prof...,
What are the two ways in which re...
10
cards
3.3 Revenues, costs and profits
What is a price maker setter 1,
What is a price taker 2,
What is total revenue tr 3
61
cards
3.4 Market structures
0
cards
3.5 Labour market
What is the demand for labour 1,
What is derived demand 2,
What is the relationship between ...
39
cards
3.6 Government intervention
What is competition policy 1,
Provide two examples of competiti...,
What does the government do in or...
22
cards
4.1 International economics
What is globalisation 1,
What is foreign direct investment...,
What are capital flows 3
83
cards
4.2 Poverty and inequality
What is absolute poverty 1,
What is relative poverty 2,
How is absolute poverty measured 3
19
cards
4.3 Emerging and developing economies
0
cards
4.4 The financial sector
0
cards
4.5 Role of the state in the macroeconomy
0
cards
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Economics
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