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By:
Chloe Robertson
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Decks in this class (26)
Distinguish Between Normative And Positive Statements
A normative statement,
What is a positive statement
2
cards
The Basic Economic Problem
What choices have to be made,
What is scarcity,
How does scarcity exist
17
cards
Exam Questions
Explain the economic problem 3,
Which of the following statements...,
Explain what is meant by scarcity 2
6
cards
Economic perspectives
Name one economist who believes i...,
What is the key ideas of the inte...,
Name one person who believed in t...
6
cards
Oppertunity Cost & PPF/C
What is a ppc f,
What is productive efficiency,
What is the analysis of a point b...
22
cards
Specialisation, Etc.
List the 5 disadvantages of speci...,
What six roles most money fulfill,
What is standard for deferred pay...
15
cards
Market economy
Centrally planned economy advantages,
Centrally planned economy disadva...,
What is a centrally planned economy
15
cards
Elasticity - Sensitive Of Demand And Supple
Ped formula,
Define elasticity,
Why is a knowledge of price elast...
17
cards
Costs & revenue. Economies & Diseconomies
What is fixed costs,
Examples if fixed costs,
Variable costs
41
cards
Productive Efficiency And Goods
Technical efficiency,
Cost efficiency,
What is allocative efficiency
17
cards
Marginal
External costs,
Social costs,
Private benefit
14
cards
Merit Goods And De-merit Goods
Information failure definition,
Left to the free market merit goo...,
Demerit goods
5
cards
Information Failure
Asymmetric information,
Moral hazard,
Adverse selection
4
cards
Policies - Indirect Taxation
Diagram analysis,
Advantages of indirect taxes,
Disadvantages of indirect tax
5
cards
Policies - Regulation
Diagram analysis,
Advantages of regulation,
Regulation disadvantages
5
cards
Policies - Tradable Pollution Permits
Diagrams analysis,
Tradable pollution permits define,
Tradable pollution permit diagram
5
cards
Externalities
What are externalities,
What happens when externalities a...,
Consumption externality
16
cards
Economic Agents
What are economic agents,
Households as consumers,
Households and work
9
cards
Elasticity
What is elasticity,
Ped calculation,
Peds will always have
43
cards
Supply and Demand
What is a market,
Whats a markets purpose,
A market equilibrium is when
22
cards
Information Provision - Leftwards Shift in Demand
Diagram,
Diagram analysis,
Advantages of information provision
4
cards
Production subsidies
Definition of production subsidies,
Diagram production subsidies,
Diagram analysis of production su...
5
cards
Direct State Provision
Diagram analysis,
Advantages of direct state provision,
Disadvantages of direct state pro...
3
cards
providing information
Diagram providing information,
Diagram analysis providing info,
Advantages of providing information
3
cards
Minimum wage
Min wage diagram,
Min wage analysis,
Advantages of min pricing
4
cards
minimum price control
Minimum price diagram,
Analysis diagram minimum price,
Advantages of minimum pricing
4
cards
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Economics - A Level
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A Level Economics
- 50 decks
- 1987 flashcards
- 1019 learners
Decks:
Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
