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Helder Kiala
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Decks in this class (36)
1.1.1 and 1.1.2 and 1.1.3
What does ceteris paribus mean,
What s a positive statement,
What s a normative statement
7
cards
1.1.4
What does a ppf show,
How is opportunity cost shown on ...,
W
9
cards
1.1.5
What is specialisation division o...,
Who is the economist who came up ...,
Name 2 advantages of the division...
9
cards
1.1.6
What s a free market economy,
Which economist supported a free ...,
Where all resources are owned by ...
10
cards
1.2.1
What do consumers want maximise,
What do firms aim to maximise,
What do the government want to ma...
3
cards
1.2.2
What causes an expansion or contr...,
Name 2 things that cause a change...,
What s diminishing marginl utility
5
cards
1.2.3
What s the defintion of ped,
What s the definition of yed,
What the defintion of xed
26
cards
1.2.4
What causes and expansion or cont...,
Name 2 factors that affect supply,
What are government subsidies
5
cards
1.2.5
What the definition of ped,
Formula of pes,
What elasticity of supply does a ...
10
cards
1.2.6
In a free market what determines ...,
What s excess supply,
What s excess supply
10
cards
1.2.7
What s the price mechanism,
What s the signaling function,
What s the incentive function
4
cards
1.2.8
What s consumer surplus,
What s producer surplus,
How do you show consumer surplus ...
6
cards
1.2.9
What are indirect taxes,
What are subsidies,
Name 2 examples of indirect taxes
8
cards
1.2.10
Name the 3 reasons why consumers ...
1
cards
1.3.1, 1.3.2 1.3.3 and 1.3.4
What is market failure,
What s a positive externality,
What s a negative externality
12
cards
1.4.1 and 1.4.2
Why do governments intervene into...,
What s a subsidy,
Draw a subsidy diagram that shows...
13
cards
3.1.1
Name 2 reasons firms may wan to grow,
Name 2 reasons firms may want to ...,
What s the divorce of ownership f...
8
cards
3.1.2
What s organic growth,
What s backward intergration,
What s forward integration
14
cards
3.1.3
What s a demerger,
Name 2 reasons for demergers,
Name an impact of demergers on
5
cards
3.2.1
What is profit maximisaton,
What s revenue maximisation,
What s sales maximisation
10
cards
3.3.1
Fomula for total revenue,
Formula for average revenue,
What s marginal revenue
4
cards
3.3.2
Formula for total cost,
Formula for total variable cost,
Formula for average variable cost
7
cards
3.3.3
Ok,
What s diseconomies of scale,
Where is the minimum efficient scale
7
cards
3.3.4
What s the condition for profit m...,
What s the definition of normal p...,
What s super normal profit
8
cards
3.4.1
What s allocative efficiency,
What s productive efficiency,
What s dynamic efficiency
7
cards
3.4.2
Name 5 of the 7 c,
What does homogeneous mean,
What does it mean to be a price t...
11
cards
3.4.3
Name 2 of the 6 characteristics o...,
Label a monopolistic diagram for ...,
Label a monopolistic diagram for ...
3
cards
3.4.4
Name 6 of the 9 characteristics o...,
In an oligopoly why might firms b...,
What s the definition of a high c...
13
cards
3.4.5
Name 3 of the 5 characteristics f...,
What s the condition for profit t...,
Draw a monopoly diagram
10
cards
3.4.6
What s a monopsony,
Name 2 cons of monopsonies,
Name 2 pros of monopsonies
4
cards
3.4.7
What is contestabilty,
What are initial costs,
What are sunk costs
9
cards
3.5.1
What s demand for labour,
Name 2 factors that can affect de...,
What type of relationship do dema...
14
cards
3.5.2
What s supply for labour,
Name 2 reasons why supply for lab...,
When comparing industries whereby...
10
cards
3.5.3
Draw a graph that shows the labou...,
Name one current labour market issue,
Name 3 ways the government can in...
10
cards
3.6.1
Name 3 ways a government can inte...,
What s a way for governments to r...,
Name a way the government can reg...
12
cards
3.6.2
What s the impact of government i...,
What s the impact of government i...,
What s the impact of government i...
7
cards
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Micro Economics - 2.0
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