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Aditya Jadhav
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Decks in this class (37)
4.1.1.1 - Economic Methodology and the Economic Problem
What does economics study 1,
What is microeconomics the study ...,
What is a positive statement 3
24
cards
4.1.1.2 - The Nature and Purpose of Economic Activity
What is a need 1,
What is a want 2,
What is welfare 3
24
cards
4.1.1.3 - Economic Resources
What is production 1,
What is a capital good 2,
What is a consumer good 3
10
cards
4.1.1.4 - Scarcity, Choice and the Allocation of Resources
What is scarcity 1,
What is the fundamental economic ...,
In free market economies what det...
11
cards
4.1.1.5 - Production Possibility Diagrams
What is the key feature of a ppd 1,
What are the three types of ppd s 2,
What does a straight line ppf rep...
21
cards
4.1.2.1 - Consumer Behaviour
What is utility 1,
What is marginal utility 2,
What do total and marginal utilit...
32
cards
4.1.2.2 - Imperfect Information
What is the distinguishing factor...,
Why may people choose to underspe...,
What is asymmetric information 3
8
cards
4.1.3.1 - The Determinants of Demand
What is a market 1,
What is a competitive market 2,
What is ruling market price 3
29
cards
4.1.3.2 - Price, Income, and Cross Elasticities of Demand
What is elasticity 1,
Why is elasticity a useful statis...,
What is the price elasticity of d...
24
cards
4.1.3.3 - The Supply of Goods and Services
What is market supply 1,
What is the relationship between ...,
What is a market supply curve 3
20
cards
4.1.3.4 - Price Elasticity of Supply
What is the price elasticity of s...,
What is unity unit elasticity 2,
What value shows if a supply curv...
16
cards
4.1.3.5 - The Determination of Market Equilibrium Prices
How is market equilibrium achieve...,
What is equilibrium 2,
What is disequilibrium 3
18
cards
4.1.3.6 - The Interrelationship between Markets
What is joint supply 1,
When is joint supply demonstrated 2,
If the demand curve for beef shif...
12
cards
4.1.4.1 - Production and Productivity
What is production 1,
What are the factors of production 2,
What is the productivity gap 3
18
cards
4.1.4.2 - Specialisation, Division of Exchange and Exchange
What is specialisation 1,
What is the division of labour 2,
What did smith establish 3
17
cards
4.1.4.3 - The Law of Diminishing Returns and Returns to Scale
What is the short run in microeco...,
How can firms produce more in the...,
What are variable factors 3
31
cards
4.1.4.4 - Costs of Production
What does production entail 1,
What is the short run 2,
What is the long run 3
33
cards
4.1.4.5 - Economies and Diseconomies of Scale
What are economies of scale 1,
What are diseconomies of scale 2,
How can a firm benefit from econo...
72
cards
4.1.4.6 - Marginal, Average and Total Revenue
What is total revenue 1,
What is average revenue 2,
What is marginal revenue 3
50
cards
4.1.4.7 - Profit
What is profit 1,
How should people think about a l...,
What is the single assumption mad...
29
cards
4.1.4.8 - Technological Change
What is technological change 1,
What does technology focus on 2,
What are the two distinct meaning...
49
cards
4.1.5.1 - Market Structures
What is market structure 1,
What are the important features o...,
What are the features of a perfec...
29
cards
4.1.5.2 - The Objectives of Firms
What does traditional theory assu...,
What is the equation for total pr...,
What does profit maximisation loo...
38
cards
4.1.5.3 - Perfect Competition
Why can perfect competition model...,
What did adam smith believe about...,
Why do consumers benefit from ind...
30
cards
4.1.5.4 - Monopolistic Competition
Why is monopolistic competition p...,
How does monopolistic competition...,
How does monopolistic competition...
35
cards
4.1.5.6 - Monopoly and Monopoly Power
What is a monopoly 1,
Can monopolies make long run supe...,
Why can monopolies make supernorm...
26
cards
4.1.5.7 - Price Discrimination
What is price discrimination 1,
How are prices set in the main fo...,
How are prices set in second degr...
14
cards
4.1.5.8 - The Dynamics of Competition and Competitive Market Processes
Traditionally how have economists...,
Why does the economy benefit from...,
How do firms compete in imperfect...
8
cards
4.1.5.10 - Market Structure, Static Efficiency, Dynamic Efficiency and Resource Allocation
Blank 1,
What is static efficiency 2,
What types of efficiency can be c...
21
cards
4.1.5.11 - Consumer and Producer Surplus
What is consumer surplus 1,
What is producer surplus 2,
What happens to consumer surplus ...
21
cards
4.1.8.1 - How Markets and Prices allocate resources
What are the precise functions th...,
What is the signalling function o...,
Give an example of the signalling...
21
cards
4.1.8.2 - The Meaning of Market Failure
What is market failure 1,
What is complete market failure 2,
What is partial market failure 3
9
cards
4.1.8.3 - Private Goods, Public Goods and Quasi-Public Goods
What are private goods 1,
What is excludability 2,
What is a rival good 3
26
cards
4.1.8.4 - Positive and Negative Externalities in Consumption and Production
What are externalities 1,
When do externalities exist 2,
What type of good is an externali...
51
cards
4.1.8.5 - Merit and Demerit Goods
What is a merit good 1,
Why do merit goods differ from pu...,
What is information failure 3
23
cards
4.1.8.6 - Market Imperfections
What is the effect of imperfect a...,
Why might the existence of monopo...,
What is the immobility of labour 3
5
cards
4.1.8.9 - Government Intervention in Markets
How can economists and politician...,
What are the arguments against go...,
What are the arguments for govern...
25
cards
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AQA A-level MicroEconomics
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