This class was created by Brainscape user Aryan Bisht. Visit their profile to learn more about the creator.
By:
Aryan Bisht
- decks
- flashcards
- learners
Decks in this class (28)
1.1 The Nature of the Economic Problem
Define resources 1,
Define scarcity 2,
Define an economic good 3
4
cards
1.2 The Factors of Production
What are the four factors of prod...,
What is the definition of land 2,
What is the definition of labour 3
22
cards
1.3 Opportunity Cost
Define opportunity cost 1,
Give an example of opportunity co...,
Give an example of opportunity co...
4
cards
1.4 Production Possibility Curves
Define a ppc 1,
What does a point under the ppc m...,
What does a point on the ppc mean 3
6
cards
2.1 Microeconomics & Macroeconomics
Define microeconomics 1,
Define macroeconomics 2
2
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
4
cards
2.3 Demand
Define demand 1,
Define quantity demanded 2,
Define effective demand 3
14
cards
2.4 Supply
Define supply 1,
Define the law of supply 2,
What factor causes a movement alo...
9
cards
2.5 Price Determination
Define market equilibrium price 1,
Define disequilibrium price 2,
What is it called as when the pri...
4
cards
2.6 Price Elasticity of Demand
Define price elasticity of demand 1,
Formula for ped 2,
Value for price elastic demand 3
14
cards
2.7 Price Elasticity of Supply
Define price elasticity of supply 1,
Formula for pes 2,
What are 2 determinants of pes 3
5
cards
2.8 Market Economic System
What is a market economic system 1,
What are 3 features of a market e...,
Define price mechanism 3
5
cards
2.9 Market Failure
Define public goods 1,
Define merit goods 2,
Define external costs 3
13
cards
2.10 Mixed Economic System
Define a mixed economic system 1,
What are 2 features of a mixed ec...,
What are 3 advantages of a mixed ...
12
cards
3.1 Money and Banking
What is money 1,
What are 3 characteristics of mon...,
Explain the characteristic of dur...
14
cards
3.2 Households
Define disposable income 1,
Define consumption 2,
Define consumer expenditure 3
17
cards
3.3 Workers
What are 3 payments of labour 1,
What are 2 things that affect an ...,
Define labour demand 3
14
cards
3.4 Trade Unions
Define trade unions 1,
What are 3 functions of a trade u...,
Define collective bargaining 3
11
cards
3.5 Firms
What are 3 advantages of a small ...,
What are 3 disadvantages of a sma...,
What are 2 reasons why small firm...
20
cards
3.6 Firms and Production
What are 3 advantages of labour i...,
What are 3 disadvantages of labou...,
What are 3 advantages of capital ...
5
cards
3.8 Market Structure
What are 3 pricing strategies 1,
Define price skimming 2,
Define penetration pricing 3
8
cards
4.2 Government Macroeconomic Aims
What are 3 macroeconomic aims of ...,
What are 3 conflicts of amcroecon...
2
cards
4.3 Fiscal Policy
3 reasons why govt spends 1,
3 reasons for levying taxes from ...,
2 advnatages of tax to economy 3
13
cards
4.4 Monetary Policy
Define monterary polic 1,
Wht is expansoioanry moneary poli...,
Wahat is the ffect of expansuonar...
5
cards
4.5 Supply-side policies
What are 3 supplys ide policies 1,
Explain imprvoigne eduaction 2,
Explain income tax cuts 3
4
cards
4.6 Economic Growth
What is economic growth 1,
What are 3 causes of economic gro...,
3 benefits of economic growth 3
7
cards
4.7 Employment and Unemployment
Define frictional unemployment 1,
Define cyclical unemployment 2,
Define structural unemployment 3
5
cards
4.8 Inflation and Deflation
Define inflation 1,
What is demand pull inflatin caus...,
What is cost push inflation cause...
9
cards
More about
Economics
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Aryan Bisht's Economics flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
