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Aryan Bisht
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Decks in this class (23)
1.1 The Nature of the Economic Problem
Define the basic economic problem 1,
Define needs 2,
Define wants 3
5
cards
1.2 The Factors of Production
What are the factors of production 1,
What is land 2,
What is labour 3
15
cards
1.3 Opportunity Cost
Define opportunity cost 1
1
cards
1.4 Production Possibility Curves
What is a production possibility ...,
What is on the y axis of a ppc 2,
What is on the x axis of a ppc 3
11
cards
2.1 Microeconomics & Macroeconomics
Define microeconomics 1,
Define macroeconomics 2,
Define an economy 3
3
cards
2.2 The Role of Markets in Allocating Resources
Define resource allocation 1,
What are the 3 basic economic que...,
Define a market 3
3
cards
2.3 Demand
Define demand 1,
The effective demand for a partic...,
Define individual demand 3
9
cards
2.4 Supply
Define supply 1,
Define the law of supply 2,
List 3 factors that cause shifts ...
6
cards
2.5-2.6 Price Determination/Changes
Define market equilibrium price 1,
Define market disequilibrium price 2,
What is surplus 3
6
cards
2.7 PED
Definition of ped 1,
Formula for ped 2,
What is perfectly inelastic demand 3
11
cards
2.8 PES
Define pes 1,
Formula for pes 2,
What are two determinants of pes 3
5
cards
2.9 Market Economic System
Define market economic system 1,
What are 3 features of market eco...,
What are 2 advantages of market e...
4
cards
2.10 Market Failure
When does market failure happen 1,
List 3 causes of market failure 2,
Define a monopoly 3
3
cards
2.11 Mixed Economic System
Define a mixed economic system 1,
List 2 features of a mixed econom...,
List 3 advantages of a mixed econ...
11
cards
3.1 Money
What is money 1,
List 4 characteristics of money 2,
List 4 functions of money 3
8
cards
3.2 Households
Define consumption 1,
Define consumer expenditure 2,
List 4 factors affecting consumpt...
15
cards
4.1 The Role of Government
List 3 things a producer provides...,
List 3 things an employer provide...
2
cards
4.2 Government Macroeconomic Aims
Blank 1
1
cards
5.3 Population
Define population 1,
List 4 factors affecting populati...,
List 2 reasons for differing deat...
12
cards
6.1 International Specialization
What is specialisation in economi...,
Give an example of international ...,
What are the two main bases for d...
21
cards
6.2 Globalisation, Free Trade and Protection
What is globalization 1,
What are multinational corporatio...,
What is the home country in the c...
19
cards
6.3 Foreign Exchange Rates
What is the foreign exchange rate 1,
How is the foreign exchange rate ...,
What causes the demand for a curr...
26
cards
6.4 Current Account of Balance of Payments
0
cards
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Economics
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