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Decks in this class (36)
Demand
Demand 1,
Quantity demanded 2,
Normal good 3
23
cards
Supply
Supply 1,
Law of supply 2,
Decrease fall in supply 2
17
cards
Market Equilibrium
Market equlibrium 1,
Price mechanism 2,
Signalling 2
22
cards
Price Mechanism
Price mechanism 1,
Signalling 2,
Prices as incentives 3
12
cards
Price Elasticity of demand
Price elasticity of demand ped 1,
Ped 1 2,
Ped 1 2
25
cards
Government Intervention - Tax
Indirect tax 1,
Indirect vs direct tax 2,
Excise tax 3
18
cards
Price Elasticity of Supply
Why can supply be inelastic 1,
Pes price elasticity of supply 2,
Pes calculation 3
18
cards
Government Intervention - Subsidy
Subsidy 1,
Forms of subisdies 2,
Aim of gov when granting subsidies 2
10
cards
Government Intervention - Price Control
Price ceiling 1,
Price floor 2,
Why do governments intervene in m...
20
cards
PPC (Production possibility Curve)
Ppc 1,
Actual output 2,
Reasons why an economy cannot pro...
12
cards
5.3 Negative Externalities of Production
Market failure 1,
Allocative efficiency 2,
Externality 3
21
cards
5.4 Negative externalities of consumption
What is a negative externality of...,
Why is the consumption of cigaret...,
What is meant by over allocation ...
17
cards
6.1 Positive externalities of production
What is a positive externality of...,
When there is a positive external...,
What is the consequence of a posi...
15
cards
6.2 Positive externalities of Consumption
Pec solution advert legislation 1,
Pec solution gov provision 2,
Pec solution subsidy 3
22
cards
8.1 Circular Flow of Income Model
What is macroeconomics 1,
How does microeconomics differ fr...,
Define circular flow of income 3
25
cards
8.2 Measures of Economic Activity
What is national income accounting 1,
Define national income 2,
What is national output 3
28
cards
8.4 The Business Cycle
What is economic growth 1,
Define recession 2,
What is a positive output gap 3
21
cards
8.5 National Income Statistics
Oecd better life index 1,
Happiness index cintril ladder 2,
Happy planet index hpi 3
18
cards
Externality Definitions
Private goods 1,
Public good 2,
Tragedy of the commons free rider...
11
cards
RWE - paper 1
Demand 1,
Pes 2,
Supply 3
15
cards
9.2 Short-run Aggregate Supply
What is the short run in macroeco...,
What is the long run in macroecon...,
Define aggregate supply 3
11
cards
9.1 Aggregate Demand (AD) and the AD Curve
What is aggregate demand 1,
What is consumer confidence 2,
How is wealth defined in the cont...
7
cards
Macroeconomic Objectives
Main macro objectives 1,
Underemployment 2,
Unemployment 3
30
cards
Macro - Short Run & Long run equilibrium
Deflationary gap recessionary gap 1,
Inflationary gap 2,
Relationshop between lras and sras 3
8
cards
Fiscal policy
Fiscal policy 1,
Budget deficit 2,
Budget surplus 3
17
cards
Monetary Policy
Monetary policy 1,
Use of central bank 2,
Why you cannot use all three mone...
13
cards
Supply Side Policies
Supply side policies 1,
Goals of supply side policies 1,
Market based supply side policy 2
13
cards
Poverty & Inequality
Absolute poverty 1,
Relative poverty 2,
Measuring poverty 3
13
cards
Global Economy - International trade benefits
The theory behind why we export a...,
How do countries benefit from int...,
Free trade 3
6
cards
Global Economy - Types of trade protection
Tariff 1,
Export subsidy 2,
Production subsidy 3
16
cards
Paper 2 - Calculations
Unemployment rate 1,
Blank 1
2
cards
Global Economy - Economic Integration
Free tarde agreement 1,
Economic integration 2,
Common market 3
9
cards
Global Economy - Exchange Rates
Disadvantages of managed exchange...,
Advantages of managed exchange ra...,
How does depreciation affect infl...
4
cards
Global Economy - Development Economics
Sustainable development 1,
Sdgs 2,
Economic development 3
3
cards
Global Economy - Barriers to economic development
Explaining poverty trap 1,
Poverty cycle for economic growth...,
All possible economic barriers to...
7
cards
Global Economy - Development strategies
Import substitution 1,
Consequences of import substituti...,
Export promotion 3
14
cards
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Econ SL
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- Test acronym Unspecified
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