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Year 13 Economics THEME 3

This class was created by Brainscape user Kaba Al-Shamim. Visit their profile to learn more about the creator.

By: Kaba Al-Shamim
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Decks in this class (15)

3.1.1 Sizes and types of firms
0  cards
3.1.2 Business Growth
What is organic growth,
What are some methods of organic ...,
What are the advantages of organi...
10  cards
3.1.3 Demergers
What is a demerger,
What are the key reasons for deme...,
What is diseconomies of scale
6  cards
3.3.2 Costs
What is meant by the short run in...,
What is meant by the long run in ...,
What is meant by
11  cards
3.3.1 Revenue
Spec points,
What is the formula for total rev...,
What is the formula for average r...
8  cards
3.3.4 Normal profits, supernormal profits and losses
What is the formula for total profit,
What is the formula for average p...,
What
11  cards
3.3.3 Economies and diseconomies of scale & c) Relationship between short-run and long-run average cost curves
What is the difference between lo...,
What is the lrac determined by,
What are returns to scale
8  cards
3.4.1 Efficiency
What is allocative efficiency,
What is productive efficiency,
What is x efficiency
6  cards
3.4.5 Monopoly
What are three characteristics of...,
Where is the profit maximising eq...,
What are some benefits of a monop...
21  cards
Perfect Competition
Spec poinst,
What are the characteristics of pc,
What kind of profit is made in th...
5  cards
Oligopoly
What are the characteristics of a...,
Explain the kinked demand curve,
What are some reasons for collusi...
17  cards
3.5.1 Factors affecting demand of labour & elasticity
What economic agents demand labour,
Describe the relationship between...,
What factors determine the demand...
9  cards
3.5.2 Supply of labour
What is the definition of the sup...,
Explain how an increase in wages ...,
W2
12  cards
3.5.3 ( wage differentials)Wage determination in competitive and non-competitive markets
1  cards
June 2022 Section A and B Feedback
Increase in customers of a servic...,
What will an increase of consumer...,
Price elasticity of demand for sw...
6  cards

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Year 13 Economics THEME 3

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