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Josh Sandhu
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Decks in this class (26)
The Three Efficiencies
Productive efficiency 1,
Pareto efficiency 2,
Allocative efficiency 3
3
cards
Interrelated Markets
Define derived 1,
Define subsitutes 1,
Define complements 2
5
cards
Scarcity (1)
Opportunity cost 1,
What s the basic economic problem 2,
Factors of production 3
3
cards
PPF Curve (2)
What does ppf curve stand for 1,
Ppf definition 2,
What s the opportunity cost of a ...
4
cards
Business Objectives (CH 2)
Profit maximisation 1,
Sales maximisation 2,
Customer satisfaction 3
10
cards
Stakeholder (CH 3)
What is a stakeholder 1,
Primary stakeholders internal 2,
Secondary stakeholders external 3
7
cards
Entrepeneurs Role (CH 4)
Economic growth 1,
Allocate rescources 2,
Job creation 3
5
cards
Why start a Business? (CH 5)
Why do people start businesses 1
1
cards
Market Equalibrium (5)
Define a free market 1,
Where is equalibrium 2,
Where is disequalibrium 3
4
cards
Specialisation (CH6)
Define specialisation 1,
Define division of labour 2,
Specialisation dis 3
4
cards
How does Economic Change affect Business? (CH7)
Interest rate meaning 1,
Exchange rate meaning 2,
Taxation meaning 3
10
cards
Demand (CH 8)
Define demand 1,
State the law of demand 2,
Pasific 3
3
cards
Supply (CH 9)
Define supply 1,
State the law of supply 2,
Why is it that when quantity incr...
6
cards
Consumer and Producer Surplus
Define consumer surplus 1,
On a graph where is the cs 2,
Define producer surplus 3
5
cards
Price Mechanism (CH11)
Signalling 1 1,
Incentives 2 2,
Rationing 3 3
3
cards
Understanding Consumers (CH 12)
What is market research 1,
Market research purpose 2,
Types of market research 3
16
cards
How do Firms Compete (CH13)
What is market positioning 1,
What is a market map 2,
Examples of a market map 3
15
cards
Role of Banks? (CH14)
What do banks do 1,
What is working capital 2,
When banks offer credit what does...
8
cards
How Banks cope with Risk and Liability? (CH 15)
What could banks do if a loan has...,
What s a risk for the bank of len...,
How does banks monitor risks 2
5
cards
How do firms find the finance they need? (CH 16)
Internal sources of finance 1,
External sources of finance 2,
What is an overdraft 3
8
cards
What happens when the market fails? (CH 17)
What can market power cause for t...,
What happens when price is too hi...,
What happens when price is too low 3
10
cards
Govt Intervention and failure (CH 18)
Government failure meaning 1,
Command economy meaning 2,
Methods of govt intervention 3
5
cards
Calculating Revenue and Costs (CH 19)
Total revenue formula 1,
Average revenue formula 2,
Marginal revenue formula 3
11
cards
Cost, Revenue, Profit Relationship (CH 20)
Profit formula 1,
Contribution meaning 2,
Contribution margin formula 3
9
cards
Exploring Profit and Loss (CH 21)
What does falling demand and low ...,
What does high demand and prices ...,
Barriers to entry meaning 3
12
cards
Business Survival and Cash Flow (CH 22)
Liquidity meaning 1,
What is a cash flow forecast 2,
Cash inflow examples 3
7
cards
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Econ Theme 1
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