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Edexcel Economics B

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

By: Erica Asante
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Decks in this class (23)

1.1 Scarcity, choice and potential conflicts
What is scarcity,
What is the free market,
How does the central planning syt...
23  cards
1.2 Enterprise, business and the economy
Describe the creative destruction...,
What are 3 long term benefits of ...,
What are innovative businesses so...
33  cards
1.3 Introducing the market
Define demand,
What is the main objective drivin...,
What causes a shift in demand
54  cards
1.4 The role of credit in the economy
What is a bank and what is its ma...,
What are interest payments,
Name 3 benefits to borrowers of b...
10  cards
1.5 Market failure and government intervention
Define a private cost,
Define a private benefit,
Define an external cost
26  cards
1.6 Revenue, costs, profits, cash
Sales revenue,
Average cost,
Total cost
9  cards
2.1 Business Growth and competitive advantage
Define economies of scale,
Define internal economies and sca...,
Define external economies of scal...
21  cards
2.2 Firms, consumers and elasticities of demand
0  cards
2.3 Productive efficiency
State and define the 4 main facto...,
What factors affect productivity,
What is the difference between ca...
13  cards
2.4 Life in a global economy
1  cards
2.5. The economic cycle
0  cards
2.6 Introduction to macroeconomic policy
What are the main macroeconomic o...,
What is fiscal policy and what do...,
What is monetary policy and what ...
8  cards
3.1 Globalisation
What does brics refer to and whic...,
What does mint refer to and which...,
What is the difference between of...
14  cards
3.2 Economic factors in business expansion
State and explain factors that pu...,
State and explain,
How does business expansion impac...
8  cards
3.3 Impact of globalisation on global companies
0  cards
3.4 Impact of globalisation on local and national economies
0  cards
3.5 Global Labour markets
0  cards
3.6 Inequality and redistribution
0  cards
4.1 Competition and market power
Define monopoly,
What is a pure monopoly,
What is monopoly power
14  cards
4.2 Market power and market failure
0  cards
4.3 Market failure across the economy
0  cards
4.4 Macroeconomic policies and impacts on firms and individuals
1  cards
4.5 Risk and the Financial Sector
0  cards

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Edexcel Economics B

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