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Joseph Boott
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Decks in this class (40)
2.1 - Demand Theory
Define demand 1,
State the law of demand 2,
State the real income effect 3
16
cards
2.2 - Supply Theory
Define supply 1,
State the law of supply 2,
List the non price determinants o...
12
cards
2.3 - Competitive Market Equilibrium
Define equilibrium 1,
Define disequilibrium 2,
Define the rationing function of ...
13
cards
2.5.1 - Price elasticity of demand
Definition of ped 1,
State the ped formula 2,
Is ped always negative or positive 3
17
cards
2.5.2 - Income Elasticity of Demand
Define yed 1,
State the yed equation 2,
Yed in normal goods 3
6
cards
2.6 - Price elasticity of supply
Define pes 1,
State the pes formula 2,
Is pes normally positive or negat...
10
cards
2.7.1 Indirect Tax
Define indirect tax 1,
Two types of indirect tax 2,
Reasons for taxation 3
11
cards
2.7.2 - Subsidies
Define subsidies 1,
Draw and label a subsidy diagram 2,
Impact on consumers 3
6
cards
2.7.3 - Governments in Markets - Maximum Prices
Why are maximum prices put in pla...,
Define maximum price 1,
List the 8 impacts of maximum pri...
11
cards
2.7.4 - Governments in markets - minimum price
Define minimum price 1,
Why are minimum prices impsoed 2,
Draw a minimum price diagram 3
7
cards
2.8.1 - Market Failure - Externalities
Define market failure 1,
Define externalities 2,
Define negative externalities or ...
20
cards
2.8.2 - Merit and Demerit Goods
Why are merit goods a market fail...,
Define merit goods 2,
Define demerit goods 3
4
cards
2.8.3 - External cost policies
List the 4 external cost policies 1,
Pros and cons of taxation 2,
Pros and cons of regulation 3
5
cards
2.8.4 - External Benefit Policies
List the 4 policies to manage ext...,
Pros and cons of subsidies 2,
Pros and cons of state provision 3
5
cards
2.8.5 - Common pool resources
Define common pool resources 1,
Property rights 2,
List the 4 market failures associ...
12
cards
2.9 - Public Goods
Define public goods 1,
List the 3 market failures associ...,
Elaborate on free rider problem 3
8
cards
3.1.1 - Measuring the Level of Economic Activity
Define national income 1,
Define economic activity 2,
Define macroeconomics 3
20
cards
3.1.2 - Measuring Economic Development
Define economic development 1,
List the three characteristics of...,
Define purchase power parity ppp 3
9
cards
3.2.1 - Variations in Economic Activity - Aggregate Demand
Define aggregate demand 1,
List the components of aggregate ...,
Draw and aggregate demand curve s...
10
cards
3.2.2 - Variations in Economic Activity - Aggregate Supply
Define aggregate supply 1,
Define long run 2,
Represent a deflationary gap in a...
6
cards
3.3.1 - Macroeconomic Objectives - Economic Growth
Define economic growth 1,
Define the short run 2,
Define the long run 3
7
cards
3.3.2 - Macroeconomic Objectives - Unemployment
Define unemployment 1,
Define the labour force 2,
People who are of working age but...
14
cards
3.3.3 - Macroeconomic Objectives - Inflation and Deflation
Define inflation 1,
Define disinflation 2,
Define deflation 3
15
cards
3.4.1 - Economics of Inequality and Poverty
Define equity 1,
Define equality 1,
Define the lorenz curve 2
12
cards
3.4.2 - Policies to improve equality, equity and poverty
Define direct tax 1,
Define indirect tax 2,
How does tax reduce inequality an...
17
cards
3.5 - Government Management of the Economy - Monetary Policy
Define monetary policy 1,
What are the four methods for the...,
What are the four aims of monetar...
21
cards
3.6 - Government Management of the Economy - Fiscal Policy
Define fiscal policy 1,
List the 5 objectives of fiscal p...,
List the 4 sources of government ...
11
cards
3.7.1 - Market-Based Supply Side Policies
List the four aims of supply side...,
Draw a diagram showing an increas...,
What do supply side policies ofte...
19
cards
3.7.2 - Interventionist Supply-side Policies
Define interventionist supply sid...,
Methods to increase long run econ...,
Elaborate on education and traini...
21
cards
4.1 - Benefits of international trade
Benefits of international trade 1,
Elaborate on availability of good...,
Elaborate on increased comp 3
10
cards
4.2 - Types of Trade protectionism
Define tariff 1,
Tariff graph stakeholder impact 2,
Define quota 3
7
cards
4.3 - Reason Governments Restrict Free Trade
Reasons for protectionism 1,
Benefits of protectionism 2,
Cost of protectionism 3
3
cards
4.4 - Economic integration
Define economic integration 1,
Define bilateral trade agreement 2,
Define regional trade agreement 3
7
cards
4.5 - Exchange rates
Define exchange rate 1,
Free floating exchange rate 2,
Demand for a currency 3
14
cards
4.6 - Balance of Payments
Define balance of payments 1,
List out the 4 sections of the ba...,
Define current account 3
6
cards
4.7 - Sustainable
Definition of economic development 1,
Definition of sustainable develop...,
Blank 3
3
cards
4.8 - Measuring Development
Define real gdp per capita 1,
Define real gni per capita 2,
List the strengths of real gdp gn...
9
cards
4.9 - Barriers to economic development
Nature of economic barriers for e...,
Dependance on primary sector 2,
Rate of investment 3
14
cards
4.10 - Economic Growth and Economic Development Strategies
Import substitution 1,
Strengths of import substitution 2,
Weakness of import substitution 3
7
cards
Real World Examples
Indirect tax 1,
Subsidy 2,
Minimum price 3
17
cards
More about
DP Economics SL
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