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Economics A level Micro

This class was created by Brainscape user Sajuthan Sathees. Visit their profile to learn more about the creator.

By: Sajuthan Sathees
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Decks in this class (13)

The nature and purpose of economic activity.
What is the central purpose of ec...,
What is economic welfare,
What are economic agents
7  cards
Economic resources
What are the four factors of prod...,
The factors of production and the...,
What is the labour factor of prod...
6  cards
Scarcity, Choice and the allocation of resources
Why is scarcity sometimes conside...,
What is the definition of economi...,
What is meant by the term opportu...
5  cards
Determinants of demand
What is a demand curve,
What is considered a normal good,
What is the rational choice theory
24  cards
The determinants of the supply of goods and services
What does the relationship of the...,
What are producers,
What is definition of supply
22  cards
Determination of equilibrium price and quantity in a market
What is market equilibrium,
What is the market equilibrium al...,
What will any change in demand or...
6  cards
Interrelationships between markets
What are complements,
What elasticity of demand do comp...,
What s the relationship between t...
9  cards
Price, income and cross elasticities of demand
What is the formula for percentag...,
What is an elasticity coefficient,
What is price elasticity of demand
41  cards
Price Elasticity of Supply
What is the relationship between ...,
What is the price elasticity of s...,
What is the formula of the price ...
15  cards
Perfect competition
What is consumer surplus,
What is producer surplus,
What is the relationship between ...
4  cards
Market Failure
What are negative externalities,
What are positive externalities,
What is imperfect information or ...
11  cards
The tragedy of the Commons
What is the tragedy of the commons,
What would cause the tragedy of t...,
How is the tragedy of the commons...
3  cards
The market mechanism, market failure
When do externalities exist
1  cards

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Economics A level Micro

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A Level Economics
  • 50 decks
  • 1987 flashcards
  • 1102 learners
Decks: Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
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