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Alison Carr
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Decks in this class (15)
Nature of economics
Define model,
What does ceteris paribus mean,
What is a positive statement
39
cards
Nature of demand
Define profit,
What do rational consumers aim to...,
Define demand
45
cards
Nature of supply
Define supply,
Define firm,
Define competitive market
26
cards
Price determination and the price mechanism
Define excess supply,
Define excess supply,
Does excess supply occur to the r...
22
cards
Price mechanism in action
Give an example of a market where...,
Deman,
Give an example of an event effec...
22
cards
Market failure and externalities
Define externality,
Define market failure,
Name three possible causes of mar...
20
cards
Public goods and information gaps
Define private good,
Define private good,
Is a private good rivalrous or no...
17
cards
Government intervention and government failure
Define market based policy,
Define regulation,
Define indirect tax
16
cards
Business behaviour and the labour market
What is the principal agent problem,
Who are the principals of a publi...,
What is organic growth
17
cards
Revenues, costs, profits and objectives
Define short run,
Define short run,
What are sunk costs
29
cards
Market structure: perfect competition and monopoly
When does productive efficiency o...,
What three questions should a fir...,
What is x inefficiency
40
cards
Market structure: monopolistic competition and oligopoly
Define monopolistic competition,
Give three examples of markets wi...,
What is product differentiation
30
cards
Pricing strategies and contestable markets
If a firm s objective is profit m...,
If a firm s objective is revenue ...,
If a firm s objective is sales ma...
22
cards
The labour market
What is derived demand,
How does the law of diminishing m...,
Name three factors that affect th...
23
cards
Government intervention to promote competition
0
cards
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Microeconomics
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