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