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Economics

This class was created by Brainscape user Jessica Carrella. Visit their profile to learn more about the creator.

By: Jessica Carrella
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Decks in this class (17)

1.1 Nature Of Economics
Define economics,
Define ceteris paribus,
Positive statements
35  cards
1.2 How Markets Work
Rational consumer behaviour,
Rational firm behaviour,
Rational government behaviour
63  cards
1.3 Market Failure
Market failure,
Externalities,
Positive externality
30  cards
1.4 Government Intervention
Government intervention,
Tax,
Minimum price
8  cards
2.1 Measures Of Economic Performance
Economic growth,
Sustainable economic growth,
Real gdp
75  cards
2.2 Aggregate Demand
Aggregate demand,
Components of ad,
Income effect
30  cards
2.3 Aggregate Supply
Aggregate supply,
Short run aggregate supply,
Long run
10  cards
2.4 National Income
Circular flow of income,
Income,
Wealth
15  cards
2.5 Economic Growth
Cause of economic growth,
Land,
Labour
22  cards
2.6 Macroeconomic Objectives
0  cards
4.4 Financial markets
Role of financial markets to faci...,
Lending to businesses and individ...,
To facilitate the exchange of goo...
22  cards
3.1 Business Growth
Why do firms grow,
Disadv of growth,
The principal agent problem
39  cards
3.2 Business Objectives
Profit maximisation,
Profit maximisation,
Condition for sr profit maximisation
5  cards
3.3 Revenues, costs and profits
Revenue,
Formula for revenue,
Average revenue
27  cards
3.4 Market structures
Productive efficiency,
Where is firm productively effici...,
Allocative efficiency
83  cards
4.1 International economics
Globalisation,
Characteristics of globalisation,
Globalisation cont
108  cards
4.2
Absolute poverty,
Relative poverty,
Secondary poverty
3  cards

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Economics

  • Class purpose General learning

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