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Unknown Unknown
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Decks in this class (13)
Central Problem of Economics
Explain and apply the concept of ...,
State and give examples of the 4 ...,
Explain how the idea of opportuni...
14
cards
Price Mechanism and Its Applications (DD/SS)
Explain the assumptions of the ma...,
Define demand and supply,
Explain why the demand curve is d...
10
cards
Price Mechanism and Its Applications (Elasticity)
Define ped how is it calculated i...,
Define yed how is it calculated i...,
Define ced how is it calculated i...
24
cards
Firms and Decisions (1)
Define the types of economic profits,
Explain the profit maximising obj...,
Define marginal revenue
53
cards
Perfect Competition
Explain the characteristics of fi...,
Explain why a perfectly competiti...,
Distinguish between a perfectly c...
6
cards
Monopoly
Explain the characteristics of th...,
Distinguish between perfect compe...,
Compare the performance of monopo...
7
cards
Pricing and Non-price decisions
Explain the conditions for effect...,
Explain the different types of pr...,
Explain how price discrimination ...
12
cards
Monopolistic Competition
Explain the key features of monop...,
Explain the sr and lr equilibrium...,
Evaluate both the merits and deme...
3
cards
Oligopoly
Explain the key features of an ol...,
Explain how these features lead t...,
Define market concentration ratio...
6
cards
Market Failure
Define market failure,
Name the six sources of market fa...,
Name the measures used to correct...
43
cards
Efficiency Concepts
Explain static efficiency,
Explain how economic efficiency i...,
Explain how dynamic efficiency is...
12
cards
Key Economic Indicators
Define economic growth,
How is sustained economic growth ...,
Define actual growth and state ho...
49
cards
Macroeconomy - Aggregate Demand
Explain the aggregate demand and ...,
Define aggregate demand ad,
Explain how ad is computed
39
cards
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Economics
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