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Tristan Briggs
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Decks in this class (89)
Micro - Positive & Normative Statements ✔️
What are positive economic statem...,
State 2 examples of positive econ...,
What are normative economic state...
5
cards
Micro - The Economic problem ✔️
The problem of scarcity,
Non renewable resources,
State 3 examples of non renewable...
6
cards
Micro - Production Possibility Frontiers (PPF) ✔️
The ppf curve,
The maximum potential of an econo...,
Opportunity cost recap
12
cards
Micro - Specialisation And The Division Of Labour ✔️
Specialisation and division of la...,
Explain how the specialisation an...,
Explain how the specialisation an...
13
cards
Micro - Free Market Economies, Mixed Economy & Command Economy ✔️
Free market economy,
Mixed economy,
Command economy
7
cards
Micro - Rational Decision Making ✔️
The underlying assumptions of rat...,
Why consumers aim to maximise uti...,
Why firms aim to maximise profits
4
cards
Micro - Demand ✔️
Movements along a demand curve,
Shifts in the demand curve,
State and explain the factors tha...
5
cards
Micro - Supply ✔️
Movement along a supply curve,
Shift in the supply curve,
Factors that may cause a shift in...
4
cards
Micro - Price Mechanism & Determination `✔️
Equilibrium price and quantity an...,
The use of supply and demand diag...,
The operation of market forces to...
9
cards
Micro - Price, Income & Cross Elasticities Of Demand ✔️
Price elasticity of demand formula,
Income elasticity of demand formula,
Cross elasticity of demand formula
9
cards
Micro - Price Elasticity Of Supply ✔️
Formula to calculate price elasti...,
Interpret numerical values of pri...,
Factors that influence price elas...
3
cards
Micro - Consumer & producer surplus ✔️
What is a consumer surplus,
What is a producer surplus,
Where is the consumer surplus loc...
8
cards
Micro - Indirect taxes & subsidies ✔️
What is an indirect tax,
What are the 2 types of indirect tax,
What is a subsidy
3
cards
Micro - Alternative views on consumer behaviour
The reasons why consumers may not...
1
cards
Micro - types of market failure✔️
What is a market failure,
Types of market failure,
Under provision of public goods
9
cards
Micro - Externalities ✔️
Distinction between private costs...,
What are external costs,
What are social costs
6
cards
Micro - public goods ✔️
Non rival,
What is meant by non excludable g...,
Distinction between public and pr...
4
cards
Micro - information gaps ✔️
What is asymmetric information,
What is symmetric information,
How imperfect market information ...
3
cards
Micro - Government intervention in markets ✔️
What is indirect taxation,
What is a subsidy,
What are minimum and maximum prices
6
cards
Micro - government failure ✔️
What is government failure,
What causes government failure,
Example of government failures
3
cards
Macro - Economic growth ✔️
How does gdp represent economic g...,
The difference between real and n...,
The difference between total and ...
15
cards
Macro - inflation ✔️
Inflation,
Deflation,
Disinflation
13
cards
Macro - Employment & Unemployment✔️
The claimant count,
International labour organisation...,
Uk labour force survey
20
cards
Macro - Balance Of Payments (BOP)
Component of the balance of payments,
The current account,
Balance of trade goods services
5
cards
Macro - Characteristics Of AD
Aggregate demand equation,
Aggregate demand ad,
Consumption c
22
cards
Macro - Concumption (C)
What is disposable income,
How does disposable income affect...,
What is the relationship between ...
6
cards
Macro - Invetment (I)
Gross investment,
Net investment,
How does the rate of economic gro...
9
cards
Macro - Government Expenditure (G)
The trade cycle,
Fiscal policy,
Tight fiscal policy
4
cards
Macro - Net Trade (X-M)
Real incomes affect on the net tr...,
Exchange rates affect on the net ...,
The state of the worlds economy a...
5
cards
Macro - The Characteristics Of AS
Aggregate supply curve diagram,
What is the difference between a ...,
What is short run aggregate supply
4
cards
Macro - Short-run AS
Change in raw materials energy co...,
Change in exchange rates affect o...,
Tax rates affect on short run as
3
cards
Macro - Long-run AS
Keynesian lras model,
Classical lras model,
Technological affects on lras
8
cards
Macro - national Income
The circular flow of income,
Income,
Wealth
4
cards
Macro - Injecions & Withdrawals
Explain the impact of injections ...,
Explain the impact of injections ...
2
cards
Macro - Equilibrium Level Of Real National Output
Equilibrium real national output,
The use of ad as diagrams to show...
2
cards
Macro - The Multiplier
Multiplier ratio,
Multiplier process,
Explain the effects of the econom...
9
cards
Macro - Causes Of Economic Growth
Factors that can cause economic g...,
Actual growth,
Potential growth
5
cards
Macro - Output Gaps
Actual growth rates,
Long term growth rates,
What s the distinction between ac...
7
cards
Macro - Trade (Business) Cycle
Trade business cycle,
What are the characteristics of a...,
What are the characteristics of a...
3
cards
Macro - Impact Of Economic Growth
How does economic growth impact c...,
How does economic growth impact f...,
How does economic growth impact t...
4
cards
Macro - Possible Macroeconomic Objectives
Economic growth,
Low unemployment government objec...,
Low and stable rate of inflation ...
7
cards
Macro - Demand-side Policies
Monetary policy,
Fiscal policy,
How interest rates affect monetar...
13
cards
Macro - Supply-side policies
Market based methods,
Interventionist policies,
How market based policies increas...
9
cards
Macro - Conflicts & Trade-offs Between Objectives And Policies
Economic growth and the current a...,
Economic growth and the environment,
Economic growth and inequality
6
cards
Micro A2 - Sizes & Types Of Firms
Reasons why firms grow,
Reasons why not to grow,
What is the principle agent problem
5
cards
Micro A2 - Business Growth
Organic growth,
Stages of production,
How businesses grow
9
cards
Micro A2 - Demergers
What is a demerger,
Reasons for a demerger
2
cards
Micro A2 - Busness Objectives
What is profit maximisation,
What is revenue maximisation,
What is sales maximisation
4
cards
Micro A2 - Revenue
Revenue formula for total revenue...,
What is perfect competition,
What is imperfect competition
6
cards
Micro A2 - Costs
Costs formula for total costtotal...,
What is law of diminishing margin...,
How to show averaged fixed cost
5
cards
Micro A2 - Economies & Diseconomies Of Scale
What is economies of scale,
What is diseconomies of scale,
Types of internal economies of scale
6
cards
Micro A2 - Normal Profits, Supernormal Profits & Losses
Conditions for profit maximisation,
Normal profit,
Super normal profit
5
cards
Micro A2 - Efficiency
Allocative efficiency,
Productive efficiency,
Dynamic efficiency
10
cards
Micro A2 - Perfecct Competition
Characteristics of perfect compet...,
Profit maximising equilibrium in ...,
Profit maximising equilibrium in ...
4
cards
Micro A2 - Monopolistic Competiton
Characteristics of monopolistical...,
Short run profit maximisation,
Long run profit maximisation
4
cards
Micro A2 - Oligopoly
Characteristics of a oligopoly,
How to calculate the n firm conce...,
The significance of the n firm co...
15
cards
Micro A2 - monopoly
Monopoly,
Characteristics of a monopoly,
Profit maximisation equilibrium
18
cards
Micro A2 - Contestability
Characteristics of a contestable ...,
Implications of contestable marke...,
Types of barriers to entry
6
cards
Micro A2 - Demand For Labour
Factors that influence the demand...,
The demand for labour as a derive...,
Marginal revenue product of labour
9
cards
Micro A2 - Supply Of Labour
Factors that influence the supply...,
How geographical mobility can cau...,
How can occupational mobility cau...
4
cards
Micro A2 - Wage Determinaton In Competetive & Non-competetive Markets
Diagrammatic analysis of labour m...,
Current labour market issues,
Maximum minimum wage
7
cards
Micro A2 - Government Intervention
Government intervention to contro...,
Price profit regulation to contro...,
Quality standards to control mono...
11
cards
Micro A2 - Impsct Of Government Intervention
How government intervention impac...,
How government intervention impac...,
How government intervention impac...
7
cards
Macro A2 - Globalisation
What is globalisation,
Characteristics of globalisation,
Factors contributing to globalisa...
9
cards
Macro A2 - Specialisaion & Trade
Absolute advantage,
Comparative advantage,
Assumptions and limitations relat...
5
cards
Macro A2 - Pattern Of Trade
What is meant by pattern of trade,
Bilateral trading agreements chan...,
Growth of trading blocs
7
cards
Macro A2 - Terms Of Trade ✔️
Terms of trade,
Terms of trade calculation,
Factors influencing a country s t...
5
cards
Macro A2 - Trading Blocs & World Trade Organisation
Types of trading blocs,
Customs unions,
Commun markets
8
cards
Macro A2 - Restrictions On Free Trade
Tariffs,
Quotas,
Subsidies
9
cards
Macro A2 - Balance Of Payments
The currents account,
The capital account,
The financial account
7
cards
Macro A2 - Exchange Rate
Floating exchange rates,
Fixed exchange rate,
Managed exchange rate
17
cards
Macro A2 - International Competitiveness
Relative unit labour costs,
Relative export prices,
Factors influencing international...
5
cards
Macro A2 - Absolute & Relative Poverty
Absolute poverty,
Relative poverty,
Measures of absolute poverty
6
cards
Macro A2 - Inequality
Wealth inequality,
Income inequality,
Lorenz curve
8
cards
Macro A2 - Measures Of Development
Foreign direct investment fdi,
Trans national firms,
Advantages of fdi
4
cards
Macro A2 - Factors Influencing Growth & Development
Trade liberalisation,
Promotion of fdi,
How does the removal of governmen...
39
cards
Macro A2 - Role Of Financial Markets
How do financial markets facilita...,
How do financial markets lend to ...,
How do financial markets lend to ...
6
cards
Macro A2 - Market Failure In The Financial Sector
Asymmetric information,
How does asymmetric information c...,
Externalities
12
cards
Macro A2 - Role Of Central Banks
How do central banks implement th...,
How are central banks a banker to...,
How are central banks a banker to...
4
cards
Macro A2 - Public Expenditure
Capital expenditure,
Current expenditure
2
cards
Macro A2 - Taxation
Main types of tax,
Indirect tax,
Direct tax
26
cards
Macro A2 - Public Sector Finances
Automatic stabilisers,
Discretionary fiscal policy,
Fiscal debt
13
cards
Macro A2 - Macroeconomic Policies In A Global Context
Fiscal policy,
Monetary policy,
Exchange rate policy
24
cards
A-Level Evaluation Points
Laffer curve,
Crowding in out,
J curve
7
cards
A-level Application Points
Inflation rate,
Interest rate,
Unemployment figures
17
cards
A-level Macro Writing Prompts (DIGESTIF)
D development,
I inflation,
G growth
8
cards
A-level Micro Writing Prompts (POPSICLE)
P price,
O output,
P profits
8
cards
Nigeria Fact File
Economic indicators,
Main exports,
Main trade partners
6
cards
A Level Diagrams
Ppf curve,
Supply demand with equilibrium,
Supply demand surpluses
44
cards
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A Level Economics
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A Level Economics
- 39 decks
- 787 flashcards
- 72 learners
Decks:
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