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Sophia Measures
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Decks in this class (14)
macroeconomics real life example
Fast economic growth,
Slow stagnant economic growth,
Low unemployment
33
cards
4.2.6 international economics
State 5 causes of globalisation,
Explain how containerisation caus...,
Explain how technological advance...
153
cards
4.1.4 production costs and revenues
What is production,
Define productivity,
Define labour productivity
72
cards
4.1.5 competition/ types of market
4 main market types from least to...,
Market structure is characterised by,
Homogoneous
97
cards
4.2.1 measuring macro performance
4 main macroeconomic objectives,
What is gdp,
Economic growth is
24
cards
4.2.2 the macroeconomy
What does national income measure,
Does an increase in national inco...,
Income
24
cards
4.2.3 economic performance
Short run growth,
Long run growth,
Potential output
61
cards
4.1.1 economic methodology and economic problem
How is economics a social science,
Methodology of economics,
Positive statement
25
cards
4.2.5 fiscal and supply side policies
What is fiscal policy,
3 macro functions of fiscal policy,
3 micro functions of fiscal policy
40
cards
4.2.2 financial markets and monetary policy
Characteristics of money,
Functions of money,
What is the money supply
61
cards
4.1.2 consumer behaviour
Marginal utility,
Total utility,
Utility maximisation
19
cards
4.1.3 price determination in a competitive market
Demand,
Movement up demand curve,
Movement down demand curve
33
cards
4.1.7 distribution of income and wealth, poverty and inequality
Wealth,
Wealth inequality,
Income
17
cards
4.1.8 Market Mechanism, Market Failure and Government Intervention in Markets
Rationing function of price,
Incentive function of price,
Signalling function of price
63
cards
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economics
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