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Decks in this class (64)
3.1 - Integration: Horizontal
What are the 4 forms of integration,
What,
Does
8
cards
3.1 - Integration: Vertical Backwards
What is vertical backwards integr...,
What are the specific advantages ...,
What are the specific disadvantag...
5
cards
3.1 - Integration: Vertical Forwards
What does vertical forwards integ...,
What are the specific advantages ...,
What are the specific disadvantag...
5
cards
3.1 - Integration: Conglomerate
What does conglomerate integratio...,
Define conglomerate,
What are the specific advantages ...
7
cards
3.1 - Types of Firm
What are the primary types of firm,
What is a not for profit organisa...,
What is a public sector organisation
7
cards
3.1 - Size of Firms
As of 2018 who were the 5 largest...,
What is an sme
2
cards
3.1 - Demergers
What is a business demerger,
Wat are the primary reasons for a...,
How does a demerger allow focus o...
11
cards
3.1 - Growth
How is organic growth defined,
How is inorganic growth defines,
What are the advantages of organi...
11
cards
3.1 - Mergers
What is a joint venture,
Which factors often cause mergers...,
How can funding cause a merger to...
7
cards
3.1 - Principal Agent
What is the primary cause of the ...,
What does the principal agent pro...,
How does the principal agent prob...
6
cards
3.1 - Small Firms
What are the key reasons to stay ...,
Why is product differentiation a ...,
Why is flexibility a reason to st...
7
cards
3.1 - Small Firm Survival
Why do small firms tend to survive,
How does acting as a supplier aid...,
How do ped and yed compliment sma...
6
cards
3.2 - Objectives
What are the 4 primary business o...,
What are the 4 main reasons for d...,
How can information gaps affect b...
5
cards
3.2 - Profit Maximisation
When does profit maximisation occur,
What else occurs during profit ma...,
What are the benefits of profit m...
7
cards
3.2 - Revenue Maximising
Revenue maximisation point,
Revenue max incentive,
Revenue max consequence
4
cards
3.2 - Sales Maximising
What is sales maximisation,
Where is the sales maximising point,
What is the sales max point also ...
4
cards
3.2 - Satisficing
What is satisficing,
Where does satisficing occur,
What does satisficing generally r...
3
cards
3.3 - Cost + Revenue Calculations
How is total revenue calculated,
How is average revenue calculated,
What is ar equivalent to
8
cards
3.3 - Revenues
What are the 2 forms of revenue g...,
What are the characteristics of a...,
What are the characteristics of a...
7
cards
3.3 - Costs (Short Run)
What are fixed costs,
What are variable costs,
What is marginal cost
12
cards
3.3 - Costs (Long Run)
Which economic condition only occ...,
How do economies of scale affect ...,
What are economies of scale
10
cards
3.3 - Internal Economies of Scale
Identify the 7 internal economies...,
What are bulk purchasing economie...,
What are economies of scale
15
cards
3.3 - External Economies of Scale
What are external economies of scale,
Give 3 causes of external economi...,
How does sharing resources result...
9
cards
3.3 - Profit
What are the conditions for profi...,
What are the 2 forms of profit a ...,
What is normal profit
7
cards
3.4 - Efficiency
What are the 4 types of economic ...,
What is economic efficiency,
When does allocative efficiency o...
13
cards
3.4 - Efficiency + Market Structures
0
cards
3.4 - Perfect Competition
What are the assumptions of a per...,
What can occur in the short run w...,
When does the shutdown point occur
11
cards
3.4 - Monopolistic Competition
What is monopolistic competition,
What are the characteristics of m...,
Why does monopolistic competition...
10
cards
3.4 - Oligopoly
What is an oligopoly,
What are the characteristics of o...,
What is strategic interdependence
8
cards
3.4 - Collusion
What are the 2 primary types of c...,
What is overt collusion,
What is tacit collusion
5
cards
3.4 - Monopoly Key Terms
0
cards
3.4 - Monopoly
What are the characteristics of a...,
When does the cma consider a firm...,
When does the profit maximisation...
12
cards
3.4 - Price Discrimination
What is price discrimination,
What are the main aims of price d...,
What is 3rd degree price discrimi...
9
cards
3.4 - Monopsony
What is monopsony power within a ...,
How does monopsony power lead to ...,
What are the benefits to the firm
5
cards
3.4 - Monopsony Impacts
What are the impacts of monopsony...,
What are the impacts of monopsony...,
What are the impacts of monopsony...
4
cards
3.4 - Contestability
What are the characteristics of a...,
What are the required conditions ...,
What are the general implications...
16
cards
3.5 - Labour Market: Key Terms
Age dependency ratio,
Capital labour substitution,
Demand for labour
13
cards
3.5 - Demand for Labour
What is the demand for labour,
What type of demand is the demand...,
When will demand for labour typic...
8
cards
3.5 - Factors Affecting Labour Demand
What is the key influence on a fi...,
How does productivity affect labo...,
How does the wage rate affect lab...
8
cards
3.5 - MRP
What is the mpl,
What is the mrp,
What are the benefits of the mrp ...
4
cards
3.5 - Elasticity of Demand for Labour
What is the elasticity of demand ...,
How is elasticity of demand for l...,
What affects the elasticity of de...
9
cards
3.5 - Labour Immobility
What are the 2 types of labour im...,
What is geographical immobility,
What are the causes of geographic...
10
cards
3.5 - Labour Immobility: Correction
What are the govt policies to cor...,
How can training investment corre...,
How can retaining the ageing work...
8
cards
3.5 - Labour Immobility: Consequences
How does labour immobility cause ...,
How does labour immobility cause ...,
How does labour immobility cause ...
8
cards
3.5 - Supply of Labour
What is the supply of labour,
What is the relationship demonstr...,
What is the reservation wage
9
cards
3.5 - Factors Affecting Labour Supply
How do wages affect the supply of...,
How do entry barriers affect the ...,
How does net migration of labour ...
6
cards
3.5 - Elasticity of Supply for Labour
What is elasticity of supply of l...,
How is els calculated,
What affects elasticity of supply...
9
cards
3.5 - Labour Markets: Disincentives
What is the poverty trap,
How does the poverty trap affect ...,
How does a rising income contribu...
6
cards
3.5 - Issues: Gig Economy
What is the gig economy,
What type of labour does the gig ...,
What of working age uk adults are...
9
cards
3.5 - Issues: Ageing Population
How is the percentage of pensiona...,
What is the median uk age,
What are the potential micro effe...
6
cards
3.5 - Issues: Robotics + AI
What are the potential micro effe...,
How will robotics affect producti...,
How will robotics affect the dema...
5
cards
3.5 - Issues: Labour Migration
What are the potential micro effe...,
How does falling net labour migra...,
How does net outward migration af...
3
cards
3.5 - Issues: Zero Hours
What is a zero hours contract,
What are the arguements in favour...,
What are the arguements against z...
3
cards
3.5 - Trade Unions
What is a trade union,
What do trade unions use to negot...,
Which factors have contributed to...
5
cards
3.5 - National Minimum Wage
What are the 2 schools of thought...,
How can a nmw theoretically reduc...,
How can a nmw theoretically incre...
11
cards
3.5 - Maximum Wage
What are the advantages of a maxi...,
How can wage funds be reallocated,
What are the drawbacks of a maxim...
5
cards
3.6 - Government Intervention: Mergers
What are the 5 main controls by g...,
What are the potential benefits o...,
What are the potential drawbacks ...
9
cards
3.6 - Government Intervention: Monopoly
What are the 4 main methods of mo...,
What are the potential benefits o...,
What are the potential drawbacks ...
14
cards
3.6 - RPI - X
What is rpi x,
What does x represent,
How does rpi x work
8
cards
3.6 - Intervention: Competition + Contest
What are the 4 forms of intervent...,
What does deregulation involve,
When will deregulation fail
11
cards
3.6 - Privatisation
What does privatisation involve,
What is privatisation often accom...,
What is the main efficiency benef...
8
cards
3.6 - Nationalisation
What is nationalisation,
What are the welfare arguments fo...,
Why might nationalisation be in t...
9
cards
3.6 - Monopsony Restriction
What is the purpose of interventi...,
How can monopsony power become ha...,
What are the general intervention...
4
cards
3.6 - Limits to Regulation
What are the potential problems w...,
What is regulatory failure,
What is regulatory capture
6
cards
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Micro 13
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