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economics keyterms

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

By: matt foulerton
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Decks in this class (19)

1 - the theory of production
Total costs 1,
Fixed costs 2,
Variable costs 3
21  cards
2 - the objective of firms
Profits 1,
Total revenue 2,
Average revenue 3
30  cards
3 - competitive markets and perfect competition
Homogeneous 1,
Allocative efficiency 2,
Optimum output 3
6  cards
4 - concentrated markets: theory of monopoly
Barriers to entry 1,
X inefficient 2,
Patent laws 3
16  cards
5 - concentrated markets: theory of oligopoly
Oligopoly 1,
Concentration ratio 2,
Predatory pricing 3
24  cards
6 - competition policy and contestable markets
Incumbents 1,
Contestable market 2,
Competition policy 3
19  cards
7 - the labour market: demand and supply
Derived demand 1,
Theory of marginal productivity 2,
Marginal revenue product mrp 3
15  cards
8 - the labour market: wage determination
Economic wealth 1,
Transfer earnings 2,
Trade union 3
10  cards
9 - the distribution of income and wealth
Wealth 1,
Marketable wealth 2,
Non marketable wealth 3
14  cards
10 - government intervention in the market
Market failure 1,
Productive inefficiency 2,
Allocative inefficiency 3
11  cards
11 - economic growth and the economic cycle
Recession 1,
Economic growth 2,
Long term growth rate 3
28  cards
12 - inflation and deflation
Deflation 1,
Inflation 2,
Consumer price index cpi 3
18  cards
13 - unemployment
Natural rate of unemployment 1,
Frictional unemployment 2,
Structural unemployment 3
19  cards
14 - fiscal policy and supply side policy
Direct taxes 1,
Principles of taxation 2,
Horizontal equity 3
30  cards
15 - monetary policy
Liquidity 1,
Narrow money 2,
Broad money 3
14  cards
16 - globalisation
Globalisation 1,
Semi manufactures 2,
Absolute advantage 3
10  cards
17 - the balance of payments
Current account 1,
Capital account and financial acc...,
Current account defecit 3
20  cards
18 - exchange rates
Appreciated 1,
Depreciated 2,
Exchange controls 3
11  cards
19 - the European union
The euro 1,
Single market 2,
European monetary union 3
11  cards

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economics keyterms

  • Class purpose General learning

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