This class was created by Brainscape user Neel Saraf. Visit their profile to learn more about the creator.
By:
Neel Saraf
- decks
- flashcards
- learners
Decks in this class (40)
1.1 - Nature of economic problem + types of goods
Public goods,
Free goods,
Economic goods
9
cards
1.2 Production
Factors of production,
Land,
Labour
16
cards
1.3 + 1.4 Opportunity cost and PPC
Opportunity cost,
Ppc,
Points inside a ppc
9
cards
2.2: Allocation of resources
Economic system,
Market economies,
Planned economic systems
9
cards
2.3 Demand
Demand,
Quantity demanded,
Individual demand
16
cards
2.4 Supply
Supply,
Law of supply,
Quantity supplied
10
cards
2.7 PED
Ped formula,
Ped,
Types of ped
17
cards
2.8 PES
What is pes,
Pes formula,
Determinants of pes
10
cards
2.9 Market economic system
What is a market economic system,
What is the price mechanism,
Advantages of a market economic s...
5
cards
2.10 Market Failure
When does a market failure occur,
2 types of market failure,
Consequences of market failure
18
cards
2.11 - Mixed economic systems + government intervention
What are some microeconomic polic...,
What is price ceiling,
What is price floor
18
cards
3.1 A - Money
Households,
What problems did money overcome,
Functions of money
19
cards
3.1 B - Banking
What is the central bank,
Functions of the central bank,
What is interest
33
cards
3.2 Households
What are households,
Functions of the households,
What is disposable income
30
cards
3.3 Workers
Methods of compensation,
What are wages,
What is salary
31
cards
3.4 Trade Unions
What is a trade union,
Employee objectives,
Employer objectives
40
cards
3.5 Firms
3 ways to classify firms,
What is an industrial sector3 ind...,
What is the primary sector
39
cards
3.5 (B) - economies and diseconomies of scale
What are the 2 types of economies...,
What are the 5 types of internal eos,
What is marketing eos int or ext
20
cards
3.6 Firms and production
What is production,
What is productivity,
What is the labour productivity f...
20
cards
3.7 Firms' costs, revenues, and objectives
What are fixed costs,
What are variable costs,
What is total cost formula
16
cards
3.8 Market structure
What is a market structurewhat ar...,
2 types of competition,
2 main types of market structures
20
cards
4.1 + 4.2 Roles of Govt
2 main roles of the govt,
What are the roles of a govt as a...,
3 types of public sector employme...
25
cards
4.3 Taxation
What is a budget govt,
What is a balanced budget,
What is a budget surplus
42
cards
4.3 fiscal policy
What is fiscal policy,
What are the 2 types of fiscal po...,
What is expansionary fiscal polic...
10
cards
4.4 monetary policy
What is the definition of monetar...,
What does money supply mean,
What does interest rate mean
23
cards
4.5 supply side policy
What are supply side policies,
What to supply side policies aim ...,
What are the 2 broad types of sup...
29
cards
4.6 economic growth
What is gdpfull form,
What are the 3 ways to calculate ...,
What is national output
27
cards
4.6 (B) Economic Recession
What is negative economic growth,
What is an economic recession,
What is economic depression
21
cards
4.7 employment and unemployment
What is unemployment,
What is full employment,
What is the labour force
39
cards
4.8 inflation and deflation
Def of inflation,
Def of deflation,
What are the 2 causes of inflation
26
cards
4.8 (2) CPI
How is inflation measured,
Process of making cpi,
What is the cpi for the base year
4
cards
5.1 Economic Development
Define economic development,
What are the 2 types of economies,
What are the different characteri...
15
cards
5.2 Living standards
Gpd per capita formula,
What does gdp per capita show,
What happens if population growth...
12
cards
5.3 poverty
Define absolute poverty,
How is absolute poverty measured,
Define relative poverty
16
cards
5.4 population
Define population,
3 main factors that impact popula...,
Define birth rate
35
cards
6.2 Globalisation + free trade
Define globalization,
Define an mnc full form,
Adv of mncs to home country of th...
27
cards
6.1 specialisation
Definition of specialisation,
Define absolute advantange,
Define comparative adv
10
cards
6.3 forex rate
Define forex rate,
How is forex rate determined,
How is forex rate determined
31
cards
6.4 - Current Account of Balance of Payments
Define the balance of payments,
3 accounts of the balance of paym...,
What does the current account record
13
cards
Eco Definitions
Economic problem,
Land,
Labour
39
cards
More about
eco
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Neel Saraf's Eco flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Eco- Mixed Revision
- 20 decks
- 662 flashcards
- 7 learners
Decks:
Section 1 The Basic Economic Problem, Section 2 The Allocation Of Resources, Section 3 Microeconomic Decision Makers, And more!
ECOS I
- 15 decks
- 502 flashcards
- 5 learners
Decks:
History Of Osteopathy, Interview Basics, Posture And Gait, And more!
Intro to Eco
- 31 decks
- 662 flashcards
- 5 learners
Decks:
Topic 1 What Is Ecology, Topic 2 Environmental Heterogeneity, Topic 3 The Aquatic Environment, And more!
