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Economics Unit 3

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

By: Jack Harris
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Decks in this class (12)

Economies of Scale
What is the difference between in...,
What are the 6 internal economies...,
3 external economies of scale
7  cards
The Birth and Growth of Firms
What is turn over,
How is market share measured,
Define capital employed
39  cards
Competition in the UK and EU
3 reasons for competition policy,
What is the competition policy in...,
What are the two areas of operati...
4  cards
Theory of the Firm
3 inputs used in the production p...,
Define total output,
Define average output
30  cards
Motives for firms and loss minimisation
What is the formula for profit ma...,
What does this graph show,
3 reasons why firms profit maximi...
18  cards
Types of effciency
Define allocative efficiency,
What is the formula for allocativ...,
What would the graph look like fo...
9  cards
Market Concentration Ratio
What is the market concentration ...,
What is the 3 firm concentration ...
2  cards
Market structures
6 charicteristics of a perfectly ...,
One example of a perfectly compet...,
What does the diagram look like f...
38  cards
Collusion and Cartels
Define collusion,
What is overt collusion,
What is tacit collusion
7  cards
Price Discrimination
What is price discrimination,
What conditions does there have t...,
What 3 techniques are used to kee...
3  cards
Pricing and non-pricing stratgies
Define cost plus pricing,
2 advantages of cost plus pricing,
2 disadvantages of cost plus pricing
18  cards
Privatization
Define privatisation,
Define deregulation,
3 example of industries that are ...
12  cards

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Economics Unit 3

  • Class purpose General learning

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