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economics - sept yr13 boughen

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

By: sofia donohoe
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Decks in this class (15)

1) Objectives of firms (1)
Firm definition,
Normal profit definition,
Supernormal abnormal or economic ...
32  cards
2) Objectives of Firms 2
Principal agent problem definition,
Principals definition,
Agents definition
27  cards
4) Revenue
Define total revenue,
Define average revenue,
Define marginal revenue
14  cards
5) Profit and Loss
What is accounting profit,
What is normal profit,
What is supernormal abnormal or e...
10  cards
6) Perfect Competition
Define market structure,
Define perfect competition,
What is a price taker
23  cards
7) Monopoly
Define monopoly,
What is perfect first degree pric...,
What is arbitrage
30  cards
8) monopoly price discrimination
What is price discrimination,
What 3 conditions are there in mo...,
Price discrimination diagram what...
12  cards
9) Natural Monopoly
Define natural monopoly,
Define nationalisation,
Define privatisation
18  cards
10) monopolistic competition
Define monopolistic competition,
Define product differentiation,
Characteristics small large numbe...
28  cards
11) Oligopoly
Define n firm concentration ratio,
Define oligopoly,
Define non price competition
72  cards
12) Contestable Markets
Define a contestable market,
Define sunk costs,
Define hit and run entry
19  cards
13) Demand For Labour
Define labour,
Define sub market,
Define derived demand
22  cards
14) supply of labour
What are non pecuniary benefits,
What is the income effect,
What is the substitution effect
15  cards
15) interaction of labour markets
Define wage differentials,
Define monopsony,
Define trade union
22  cards
3) cots + costs and time
What are fixed costs,
What are variable costs,
What is the total cost
25  cards

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economics - sept yr13 boughen

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