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Tanishka Mahesh
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Decks in this class (28)
Economics as a Social Science
What is a social science,
What is an economic model,
Why do economists use models
5
cards
Positive and Normative statements
What is the difference between a ...,
Give an example of where a value ...,
What is a positive statement
4
cards
Th Economic Problem
Which 3 questions does the study ...,
What does scarcity mean,
What is a renewable resource
12
cards
Production Possibility Frontiers
What is a ppf,
Explain 3 causes of an outward sh...,
Explain 2 causes of an inward shi...
7
cards
Specialisation and the division of labour
Which economist observed the divi...,
What is specialisation,
How does the division of labour r...
7
cards
Free market, mixed and command economies
Which economist is associated wit...,
What is a free market economy,
How are the 3 fundamental questio...
14
cards
Demand
What is demand,
Explanation 3 reasons the demand ...,
What could cause an extension in ...
7
cards
Supply
What is supply,
Explain 3 reasons why supply curv...,
What could cause an extension in ...
5
cards
Price Determination and Price Mechanism
What is equilibrium price,
What is equilibrium quantity,
What is a shortage
7
cards
Consumer and Producer Surplus
What is consumer surplus,
What is producer surplus
2
cards
Price Elasticity of Demand
What is the definition of price e...,
Give the formula for ped,
What is meant by price elastic de...
11
cards
Price Elasticity of Supply
What is the definition of price e...,
Give the formula for pes,
What is meant by price elastic su...
14
cards
Economic Growth
What is gross domestic product,
Explain the difference between re...,
Explain the difference between to...
8
cards
Inflation
What is inflation,
What is deflation,
What is disinflation
21
cards
Employment and Unemployment
What is meant by unemployment,
What is the claimant count,
Why may claimant count not be acc...
17
cards
Balance of Payments
What is the balance of payments,
What are the four components of t...,
What is meant by a current accoun...
9
cards
Aggregate Demand
What is aggregate demand,
What are 4 components of ad,
Explain 3 reasons why the ad curv...
5
cards
Consumption
Define consumption,
Define disposable income,
Explain the relationship between ...
9
cards
Investment
Define investment,
Explain the difference between ne...,
Define interest rates
9
cards
Government Spending
Explain what is meant by governme...,
Explain the difference between ex...
2
cards
Trade Balance
Explain the meaning of trade balance,
Explain the difference between ex...,
Explain the effect of an increase...
8
cards
Aggregate Supply
What is the definition of aggrega...,
Why is the sras curve upward sloping,
What causes an expansion in aggre...
10
cards
National Income
What is the circular flow of income,
What is the difference between in...,
What is the opportunity cost of a...
5
cards
Injections and Withdrawals
What is an injection,
Give 3 injections,
What is a withdrawal
7
cards
Equilibrium levels of real national output
What condition must be achieved f...,
What are the axes on a as ad graph
2
cards
Macroeconomic Objectives
What are the 7 macroeconomics,
What is the long run trend rate o...,
What are the 4 main objectives of...
11
cards
Causes of growth
What is the difference between ac...,
What causes actual growth but not...,
What causes potential growth
3
cards
The trade cycle
1
cards
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Economics
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