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Decks in this class (23)
1.1 nature of economics
What is a social science in terms...,
What is ceteris paribus 2,
What are the 4 economic agents 3
44
cards
1.2.1 1.2.2 1.2.4 demand and supply
What is demand 1,
What is the law of demand 2,
Explain contraction and extension...
15
cards
1.2.3 PED YED XED PES
What is elasticity 1,
What are the types of elasticity 2,
What is the price elasticity of d...
26
cards
1.2.6 price determination market equilibrium
What is a free market 1,
What is equilibrium in supply and...,
What is disequilibrium in supply ...
6
cards
1.2.7 Price mechanism
What is price mechanism 1,
What are the main functions on pr...,
What is signalling 3
5
cards
1.2.8 consumer and producer surplus
What is consumer surplus 1,
Where is consumer surplus located...,
What is producer surplus 3
5
cards
1.2.9 indirect tax and subsides
What is indirect tax 1,
What is direct tax 2,
What is the purpose of indirect t...
23
cards
1.2.10 Alternate Views On Consumer Behaviour
Why may consumers not behave rati...,
Evaluative points 2
2
cards
2.1 Measures Of Economic Performance
What are the 4 indicators of econ...,
What does economic growth refer to 2,
What does unemployment refer to 3
41
cards
2.2 Aggregate Demand
What is aggregate demand 1,
Describe an aggregate demand curve 2,
Why does the ad curve take this s...
40
cards
2.3 Aggregate Supply
What is aggregate supply 1,
What is short run as 2,
What is one feature of the as cur...
11
cards
2.3 keynesian graph
What is keynesian view of lras 1,
What does keynesian theory sugges...,
True or false in the keynesian mo...
8
cards
2.4.3 Equilibrium level of real national output
How does macroeconomic equilibriu...,
What is short run macroeconomic e...,
What is long run macroeconomic eq...
7
cards
2.4.4 multiplier effect
What is the multiplier effect 1,
What is the multiplier ratio 2,
Explain the multiplier process wh...
14
cards
2.5 economic growth 2.5.3
What is an economic or business c...,
What does an economic cycle look ...,
Give a simple explanation of econ...
17
cards
1.3 Market Failure
What is market failure 1,
What happens if an economy works ...,
How would resources be allocated ...
7
cards
1.3.3 Public And Private Goods
What are pure public goods 1,
What is non excludable good and n...,
What is a private good 3
7
cards
1.3.4 Informtion Failure
What is information failure 1,
What is lack of information 2,
What is aysemetric information 3
8
cards
2.1.4 Balance Of Payments
What is balance of payments 1,
What are the components of balanc...,
What happens if balance of paymen...
16
cards
1.3.2 Externalities
Wha is externalities 1,
What is a private cost 2,
What is external cost 3
23
cards
2.1.2 Inflation
What is inflation 1,
What is deflation 2,
What is disinflation 3
23
cards
1.4.1 Maximum And Minimum Price
What is maximum price 1,
Why does the government set a max...,
How do consumers benefit from max...
8
cards
2.1.3 Unemployment
What is the definition of unemplo...,
What are the two types of unemplo...,
How does the labour force survey ...
28
cards
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