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Yamin Ahmed
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Decks in this class (23)
Economic Probelm, Economic Agents & Opportunity Cost
Basic economic problem 1,
Scarcity 2,
Factors of production fop 3
8
cards
Specialisation
Specialisation 1,
Division of labour 2,
Adv disadv of specialisation 3
3
cards
Demand
Demand 1,
Factors that shift demand 2,
Application 3
3
cards
Supply
Supply 1,
Types of supply 2,
Shifts in supply 3
4
cards
Producer & Consumer Surplus
Consumer surplus 1,
Producer surplus 2
2
cards
PED, YED & XED
Price elasticity of demand ped 1,
Factors affecting ped 2,
Income elasticity of demand yed 3
7
cards
PES
Price elasticity of supply pes 1,
Factors influencing pes 2
2
cards
Determination Of Equilibrium & Market Prices
Equilibrium price quantity 1,
Excess demand 2,
Excess supply 3
3
cards
Production, Costs & Revenue
Short long run 1,
Marginal average total revenue 2,
Law of diminishing returns 3
4
cards
Costs of Production
Fixed variable costs 1,
Marginal average total costs 2,
Short run average total cost curve 3
5
cards
Economies & Diseconomies of Scale
Internal economies of scale 1,
External econonmies of scale 2,
Diseconomies of scale 3
7
cards
Marginal, Average & Total Revenue
Marginal average total revenue 1,
Why ar demand 2,
Relationship between ar mr 3
3
cards
Market Structures
Market sructure spectrum 1,
Features of a market structure 2,
Barriers to entry 3
3
cards
Objectives of Firms
Profit 1,
Profit maximisation 2,
Divorce of ownership from 3
5
cards
Perfect Competition
Characteristics of perfect compet...,
Profit maximising equilibrium in ...,
Profit maximising equilibrium in ...
4
cards
Monopolistic Competition
Characteristics of monopolistical...,
Profit maximising equilibrium in ...,
Profit maximising equilibrium in ...
4
cards
Oligopoly
Characteristics of oligopoly 1,
Collusive non collusive oligopoly 2,
Overt tacit collusion 3
11
cards
Monopoly & Monopoly Power
Characteristics of monopoly 1,
Factors influencing monopoly power 2,
Profit maximising equilibrium 3
4
cards
Price Discrimination
Price discrimination 1,
Different price elasticities in a...,
Types of price discrimination 3
4
cards
Dynamics of Competition & Competitive Market Processes
Sr lr benefits from competition 1,
Non price competition 2,
Process of creative destruction 3
3
cards
Contestable & Non Contestable Markets
Characteristics of contestable ma...,
Significance contestable markets 2,
Types of barriers to entry 3
5
cards
Market Structure, static Efficiency, Dynamic Efficiency & Resource Allocation
Static dynamic efficiency 1,
Conditions required for productiv...,
Dynamic efficiency 3
4
cards
Labour Markets
Labour 1,
Factors affecting demand for labo...,
Marginal productivity theory of d...
10
cards
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Economics 📈: Micro
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