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Ini Kazeem
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Decks in this class (71)
All Diagrams (Still in Progress)
Draw a ppf,
Indirect tax diagram analysis,
Subsidy diagram analysis
30
cards
Explain how a production possibility diagram can be used to illustrate some features of the fundamental economic problem. [15 marks] - 4.1.1.5
Draw a ppf,
Definition of fundamental economi...,
Para 1 definition of ppf
8
cards
2.4 - Pros + Cons + Eval - Free Market
What are the key assumptions for ...,
What is market failure,
What is allocative efficiency
19
cards
2.4 - Signposting
Acronym for points in favour of f...,
Acronym for points against free m...,
Acronym for evalution for free ma...
3
cards
4.1 Indirect Taxation
Why do governments levy taxes,
What is the purpose of raising re...,
What is the purpose of redistribu...
20
cards
4.1 - Signposting
Why do governments levy taxes,
Look at this diagram below identi...,
Evaluation points of indirect tax...
4
cards
4.2 Subsidy
What is a subsidy,
Why do governments issue subsidies,
How do subsidies help correct mar...
18
cards
4.3 Minimum Price (Price Floor)
What is a minimum price and why d...,
Minimum price price floor diagram,
How can minimum prices help prote...
19
cards
4.4 Maximum Price (Price Ceiling)
What is a maximum price,
Why do governments impose maximum...,
Maxiumum price diagram analysis
14
cards
5.1 Negative Externality in Production
What is market failure,
Neagtive externality diagram anal...,
What are negative externalities i...
13
cards
5.2 De-Merit Goods
What are de merit goods,
De merit good diagram it is just ...,
What are some examples of de meri...
9
cards
5.3 Tragedy of the Commons
What are common access resources,
What is the tragedy of the commons,
Neagtive externality diagram anal...
7
cards
5.4 Public Goods
What are the two characteristics ...,
What does non excludable mean in ...,
What does non rival mean in relat...
6
cards
5.5 Information Failure
What is information failure in fr...,
What are examples of information ...,
What are the consequences of info...
8
cards
5.6 Factor Immobility
What is factor immobility,
What are some reasons that can ca...,
How can factor immobility result ...
3
cards
5.7 Volatile Commodity Prices
What causes the high volatility o...,
Why is ped extremely low for prim...,
Why is pes also very low for prim...
5
cards
5.8 Monopoly Power
What is a monopoly,
What is the market share required...,
What is the profit maximizing beh...
8
cards
5.9 Income Inequality
What is the price mechanism,
What does an efficient allocation...,
Does the price mechanism differen...
6
cards
6.1 Indirect Taxation and Market Failure
What is an indirect tax,
How does a carbon tax affect the ...,
What is the impact of an indirect...
8
cards
6.2 Subsidy and Market Failure
What is a subsidy used for in sol...,
How does a subsidy solve positive...,
What are the potential drawbacks ...
7
cards
6.3 Regulation and Market Failure
What are regulations in economics,
What is the purpose of regulation...,
What is the advantage of regulati...
7
cards
6.3 - Signposting
Regulation to solve market failur...
1
cards
6.4 Tradable Pollution Permits and Market Failure
What is a tradable pollution perm...,
What is the incentive for firms i...,
Pollution permit diagram analysis
7
cards
6.5 State Provision and Market Failure
What is state provision,
What market failures can state pr...,
What is the missing market proble...
13
cards
6.6 Information Provision and Market Failure
How can negative advertising or i...,
How can positive advertising or i...,
What are some cons evaluations of...
5
cards
6.7 Price controls and Market Failure
What is a minimum price and how c...,
Con demand for de merit goods suc...,
Con could be regressive cons eval...
13
cards
6.8 Property Rights and Market Failure
What is the allocation of propert...,
Con it is very difficult to distr...,
Con the policing of property righ...
5
cards
6.9 Buffer Stock Schemes and Market Failure
What are buffer stock schemes,
How do buffer stock schemes work,
What is the purpose of buffer sto...
9
cards
6.10 Government Failure
What is government failure,
What are the primary causes of go...,
What is an example of high admini...
8
cards
7.1 Business Strategies to Improve Labour Productivity
How can a business improve labour...,
What are some ways a business can...,
How can a business increase the p...
4
cards
7.2 Specialisation Advantages
Advantage an increase in output,
Advantage a wider range of goods ...,
Advantage an increase in allocati...
10
cards
7.3 Division of Labour Advantages
What are the advantages of divisi...,
How does having more production l...,
What is the benefit of giving spe...
8
cards
7.4 Benefits of Business Growth
Benefits profits can rise allowin...,
Benefits experience greater econo...,
Benefits flood the market with pr...
10
cards
7.5 Specific Benefits of Organic (Internal) Growth
What is organic internal growth,
What is inorganic external growth,
Specific benefits control of the ...
8
cards
7.6 Specific Benefits of Inorganic (External) Growth
What is inorganic external growth,
What is horizontal integration,
What is vertical integration
17
cards
7.7 Specific Benefits of Conglomerate Integration
What is conglomerate integration,
Benefits businesses can diversify...,
Benefits profits can rise allowin...
5
cards
7.8 Benefits to the Firm of a De-Merger
What is a demerger,
Benefit by demerging a business c...,
Benefit by demerging a business c...
12
cards
8.1 Costs
Short run,
Long run,
Law of diminishing returns and sh...
19
cards
8.2 Functions of Profit
Functions of profit,
Profit provides an incentive to i...,
Profit is a reward to risk taking...
5
cards
8.3 Barriers to Entry and Exit
Barriers to entry economies of sc...,
Barriers to entry high start up c...,
Barriers to entry high sunk costs
9
cards
8.4 Objectives of Firms
Objectives of firms diagram analysis,
What is profit maximization,
Evaluation 1 what is the challeng...
11
cards
8.5 Efficiency for Market Structures
What is allocative efficiency,
What are the benefits of allocati...,
What is productive efficiency
7
cards
9.1 - Perfect Competition
What are the characteristics of a...,
How does the number of buyers and...,
What is meant by homogenous goods...
21
cards
9.1 Signposting
What are the characteristics of a...,
Perfect competition long run perf...,
Perfect competition long run perf...
6
cards
9.2 Monopoly
What are the 5 monopoly character...,
What is a pure monopoly,
What is monopoly power
23
cards
9.2 - Signposting
Monopoly performance cons,
Monopoly performance pros,
Monopoly performance evaluation
7
cards
9.3 Natural Monopoly
What is a natural monopoly market,
What is the significant advantage...,
Why does it make no sense for fir...
5
cards
9.3 - Signposting
Natural monopoly characteristics,
Natural monopoly firm behaviour
2
cards
9.4 Price Discrimination
What is price discrimination,
What are the conditions for firms...,
Why do firms in competitive indus...
18
cards
9.4 Signposting
Price discrimination conditions,
Price discrimination cons,
Price discrimination pros
3
cards
9.5 - Monopsony Product Market
What is a monopsony market,
What is one benefit that consumer...,
What is a potential negative impa...
11
cards
9.5 - Signposting
Monopsony consumer impact,
Monopsony consumer impact evaluation,
Monopsony firm impact
7
cards
9.6 - Monopolostic Competition
What are the characteristics of m...,
What is the implication of goods ...,
How do low barriers to entry and ...
12
cards
9.6 Signposting
Monopolistic competition long run...,
Monopolistic competition long run...
2
cards
9.7 Oligopoly
What are the six characteristics ...,
What is the concentration ratio i...,
How are goods and services produc...
34
cards
9.7 Signposting
Oligopoly performance potential o...,
Oligopoly performance cons,
Oligopoly performance pros
3
cards
9.8 Contestable Markets
Perfectly contestable market char...,
Contestable market performance pros,
Contestable market performance cons
4
cards
9.8 Contestable Markets
What are the characteristics of a...,
How does the absence of barriers ...,
Why is the large potential pool o...
25
cards
10.1 Monopoly Regulation
Monopoly regulation diagram,
What are 4 reasons that a competi...,
When do competition authorities h...
41
cards
10.1 Signposting
What are the different regulation...,
Different types of price regulation,
Evaluation points for price regul...
7
cards
10.2 Privatisation and Deregulation
1021 what is privatisation,
1022 what is deregulation,
1023 what are the different forms...
28
cards
10.3 Nationalisation
103 nationalisation what is natio...,
Nationalisation pros how do publi...,
Nationalisation pros why are publ...
17
cards
10.3 Signposting
Nationilisation pros,
Nationilisation cons,
Nationilisation evaluation
3
cards
12.1 Foundations of Behavioural Economic Thought
Q1 how does traditional neoclassi...,
Q2 what does behavioral economics...,
Q3 what is bounded rationality in...
6
cards
12.2 Behavioural Economics - Cognitive BIases
Q1 what are cognitive biases as a...,
Q2 what is anchoring bias and how...,
Q3 how do social norms impact con...
7
cards
12.3 Behavioural Nudge Policies:Types
1 how does framing influence cons...,
2 what is the concept of nudges i...,
3 how does the use of default cho...
14
cards
8.4 - Signposting
0
cards
10.2 Signposting
0
cards
6.1 Signposting
0
cards
Book2
Q1 how does reducing the marginal...,
Q2 what is the impact of reducing...,
Evaluation q1 what are the potent...
5
cards
Multiple Choice
0
cards
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Micro - EPD
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