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Sabine Wierda
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Decks in this class (24)
The Economic Problem
What is the basic economic problem,
What is scarcity,
What is opportunity cost
7
cards
The factors of production
What is production,
What is consumption,
Name the four factors of production
6
cards
Production possibility curve
What does a ppc curve show,
What does a straight line ppc show,
Why is a ppc downward sloping
4
cards
Economic Systems
How do countries deal with the ba...,
What is resource allocation,
Name and explain the two sectors ...
16
cards
ALL SDGS
What is sdg 1,
What sdg 5,
What is sdg 8
9
cards
Demand And Supply
What is a market,
What is demond,
What is quantity demanded
13
cards
Price Mechanism
What does a price show,
What is a price mechanism,
What is the equilibrium price
6
cards
Elasticity
What is price elasticity,
What is the price elasticities of...,
Define price elasticity of demand...
11
cards
Production
Define production,
What are the 3 stages of production,
What is specialization by product
6
cards
Production Costs
What is profit,
How do you calculate profit,
What are production costs and wha...
10
cards
The Property Market
State the key non price factors t...,
Elaborate on the key nonprice fac...,
Elaborate on interest rates a non...
5
cards
The Labour Market
Define derived demand,
Show how demand for labour is der...,
State the factors that affect the...
9
cards
Economies Of Scale
Compare and contrast internal eco...,
What are internal dis economies o...
2
cards
Sources of finance
What is finance,
What are sources of finance,
Name a few needs for sources of f...
19
cards
Money and credit institutions
What is money,
What are the functions of money,
What are the characteristics of m...
9
cards
Market failure and governments response
What is price mechanism,
What is market failure,
What are the instances of market ...
19
cards
Inflation
What is an economic indicators,
What is inflation,
What is deflation
13
cards
Unemployment
What is unemployment,
What is the unemployment rate,
Give the unemployment rate formula
10
cards
Government, revenue and expenditure
What are the two main categories ...,
What is tax,
What are the types of taxation
11
cards
Gross domestic product
Define gdp,
Define real gdp,
Distinguish between nominal gdp a...
7
cards
National income
Explain how income flows between ...,
What are withdrawals,
What are injections
15
cards
Economic Growth
Define economic growth,
Show how short term economic grow...,
Explain possible causes of econom...
17
cards
Income And Wealth
Define income,
Define wealth,
Explain the relation of wealth to...
10
cards
Macroeconomic Policy
What is macroeconomic policy,
Who is the overall economic polic...,
What are the main macroeconomic o...
27
cards
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Economics
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