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MicroEconomics

This class was created by Brainscape user James Chadwick. Visit their profile to learn more about the creator.

By: James Chadwick
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Decks in this class (11)

1.1 The Economic Problem
Explain what an economic good is 1,
Explain what a free good is 2,
Explain the economic problem 3
16  cards
1.2 The Allocation of Resources (not complete)
Explain why resources need to be ...,
Explain the incentives to firms 2,
Explain market economies 3
7  cards
2.10 - Public Goods incomplete
Explain what is meant by the term...,
What is meant by the term non exc...,
What is meant by the term non riv...
8  cards
3.1 Business Objectives
Explain profit maximisation objec...,
Explain sales revenue maximisatio...,
Explain sales volume maximisation...
11  cards
3.2 Costs and Economies of Scale
Explain fixed costs 1,
Explain variable costs 2,
Explain and calculate average cos...
15  cards
3.2.1 Internal Economies Of Scale (IEoS)
Where do internal economies of sc...,
What is a technical economy of sc...,
What is specialisation of the wor...
10  cards
3.3 Revenue & Profit
Explain and calculate total reven...,
Explain and calculate average rev...,
Explain and calculate marginal re...
6  cards
4.1 Perfect Competition
Explain the characteristics of pe...,
Explain and draw a diagram for pc...
2  cards
4.2 Monopolies
Explain the characteristics of a ...,
Explain dynamic efficiency 2,
Explain x inefficiency 3
3  cards
5.1 Demand For Labour
Explain derived demand for labour 1,
Explain how the productivity of w...,
Explain how the wage rate will af...
14  cards
5.3 The Interaction of Labour Markets (incomplete)
Explain and list examples of wage...,
Explain what monopsony power is 2,
Evaluate how monopsony powers aff...
4  cards

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MicroEconomics

  • Class purpose General learning

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OCR A-Level Economics
  • 14 decks
  • 357 flashcards
  • 290 learners
Decks: 11 The Economic Problem, 12 The Allocation Of Resources, 13 Opportunity Cost, And more!
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