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Ayyan Ghouri
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Decks in this class (21)
Economic Methodology
What is the definition of economi...,
What type of science is economics,
What does ceteris parabus mean
7
cards
Scarcity and Opportunity Cost
What is the central purpose of ec...,
What is a need,
What is a want
8
cards
Factors of Production and PPF
What is the definition of inputs,
What are factors of production,
What are the four factors of prod...
26
cards
Market Equilibrium (check powerpoint as well)
What is the definition of a market,
What is the usual exchange medium...,
What is the definition of demand
21
cards
The Meaning of Market Failure (price mechanism)
How does market failure occur,
When does a complete market failu...,
What are the three characteristic...
20
cards
Demand Elasticities (PED and YED)
What does elasticity measure,
What does law of demand state,
What does ped measure
50
cards
Price Elasticity of Supply
What does pes stand for,
What does pes measure,
What is the equation for pes
14
cards
Price Mechanism - Interrelationship Between Markets
What are markets,
What is the price mechanism,
What are the four main functions ...
20
cards
Cross Elasticity of Demand
What does xed stand for,
What does xed measure,
What is the definition of substit...
16
cards
Negative Externalities
What are externalities,
What are negative production exte...,
What is a private cost
9
cards
Indirect Taxes and Subsidies
What is the definition of governm...,
Markets are __________ inefficien...,
What is an indirect tax
22
cards
Maximum Price and Minimum Prices
A maximum price must be set _____...,
What is a minimum price
2
cards
Pollution Permits and Property Rights
What do pollution permits involve,
How can pollution permits also be...,
What is the purpose of a property...
5
cards
Positive Externalities and Merit Goods
A subsidy reduces the marginal __...,
What are merit goods,
How does information failure occur
5
cards
Information Failure
What are the four requirements fo...,
Classical economics assumes that ...,
What is asymmetric information
4
cards
Government Failure
What is the definition of governm...,
Give 4 common causes of governmen...
2
cards
Privatisation and Nationalisation
What is nationalisation,
Give 9 causes of market failure,
What is cyclical instability
10
cards
The Distribution of Income and Wealth
What is the definition of income,
What is the definition of wealth,
What does social mobility mean
15
cards
Poverty
What is destitution,
What is the definition of absolut...,
What is the definition of relativ...
5
cards
What is Macroeconomics?
What are the four key macroeconom...,
What does gdp stand for,
What is gdp
7
cards
Index Numbers
What are index numbers,
What is the index number of the b...,
How do you create an index from a...
3
cards
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AQA A-Level Microeconomics Year 1
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