This class was created by Brainscape user Ikhee Lee. Visit their profile to learn more about the creator.
By:
Ikhee Lee
- decks
- flashcards
- learners
Decks in this class (39)
Chapter 1: The nature of the economic problem
Resources,
The economic problem,
Scarcity
5
cards
Chapter 2: Factors of Production
Factors of production,
Land,
Labour
21
cards
Chapter 3: Opportunity costs
Opportunity cost
1
cards
Chapter 4: Production Possibility Curves
Production possibility curve,
Production points
2
cards
Chapter 5: Microeconomics and Macroeconomics
Microeconomics,
Macroeconomics,
Market
5
cards
Chapter 6: The role of markets in allocating resources
Economic system,
Planned economic system,
Directives
11
cards
Chapter 7: Demand
Demand,
Market demand,
Aggregation
14
cards
Chapter 8: Supply
Supply,
Market supply,
Extension in supply
13
cards
Chapter 9: Price determination
Equilibrium price,
Excess supply,
Disequilibrium
4
cards
Chapter 10: Price Changes
Surplus
1
cards
Chapter 11: Price elasticity of demand
Price elasticity of demand ped,
Formula for price elasticity of d...,
Elastic demand
8
cards
Chapter 12: Price elasticity of supply
Price elasticity of supply pes,
Formula for pes,
Elastic supply
8
cards
Chapter 13: Market economic system
Public sector,
State owned enterpirses soe,
Privatisation
10
cards
Chapter 14: Market Failure
Third parties,
Social benefits,
Social costs
15
cards
Chapter 15: Mixed economic system
Mixed economic system,
Maximum price,
Minimum price
9
cards
Chapter 16: Money and Banking
Money,
Four functions of money,
Commercial banks
6
cards
Chapter 17: Households
Disposable income,
Wealth,
Rate of interest
8
cards
Chapter 18: Workers
Earnings,
Wage rate,
Bonus
16
cards
Chapter 19: Trade unions
Trade union,
Craft unions,
General unions
9
cards
Chapter 20: Firms
Industry,
Quaternary sector,
Internal growth
16
cards
Chapter 21: Firms and Production
Profit,
Corporation tax
2
cards
Chapter 22: Firms, costs, revenue and objectives
Total cost tc,
Average total cost atc,
Fixed costs fc
12
cards
Chapter 23: Market structure
Market structure,
Competitive market,
Normal profit
9
cards
Chapter 24: The role of government
Local government,
Natural monopoly,
Strategic industries
6
cards
Chapter 25: The macroeconomic aims of government
Economic growth,
Actual economic growth,
Potential economic growth
11
cards
Chapter 26: Fiscal policy
Budget,
Budget deficit,
Budget surplus
17
cards
Chapter 27: Monetary policy
Monetary policy,
Foreign exchange rate,
Expansionary monetary policy
4
cards
Chapter 28: Supply-side policies
Supply side policy,
Deregulation
2
cards
Chapter 29: Economic growth
Gross domestic product gdp,
Circular flow of income,
Value added
10
cards
Chapter 30: Employment and unemployment
Employment,
Unemployment,
Flexible labour force
17
cards
Chapter 31: Inflation and deflation
Deflation,
Disinflation,
Consumer price index cpi
12
cards
Chapter 32: Living standards
Human development index hdi,
Genuine progress indicator gpi,
Purchasing power parity ppp
6
cards
Chapter 33: Poverty
Absolute poverty,
Relative poverty,
Vicious circle of poverty
4
cards
Chapter 34: Population
Emigration,
Birth rate,
Death rate
9
cards
Chapter 35: Differences in economic development between countries
Economic development,
The world bank,
The imf
3
cards
Chapter 36: International specialisation
Tariff
1
cards
Chapter 37: Free trade and protection
Globalisation,
Quota,
Embargo
9
cards
Chapter 38: Foreign exchange rates
Foreign exchange rate,
Fixed exchange rate,
Devaluation
8
cards
Chapter 39: Current account of balance of payments
Trade in goods,
Trade in goods deficit,
Trade in goods surplus
7
cards
More about
IGCSE Economics Definitions
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Ikhee Lee's IGCSE Economics Definitions flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
IGCSE Economics
- 21 decks
- 439 flashcards
- 1431 learners
Decks:
Money And Finance, Occupations And Earnings, The Growth Of Firms, And more!
Conditions + definitions
- 68 decks
- 5311 flashcards
- 6 learners
Decks:
Psych, Psych 2, Psych 3, And more!
