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matt foulerton
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Decks in this class (29)
costs
Total product tp 1,
Marginal product mp 2,
Diminishing returns occurs when 3
14
cards
profit and revenue
Conditions for profits to rise fa...,
If average revenue average total ...,
If average total costs average re...
10
cards
growth
Why companies wish to grow 1,
Difficulties of firms growing 1 2,
Difficulties of firms growing 2 3
5
cards
efficiency and competition
Types of efficiency 1 1,
Types of efficiency 2 2,
Features of perfect competition 3
11
cards
Oligopoly
Features of oligopoly 1,
Firms in oligopoly will compete i...,
Game theory 3
16
cards
monopoly
Monopoly facts 1,
Monopoly diagram 2,
Monopoly disadvantages 3
18
cards
mergers
Uk merger policy 1,
Disadvantages of mergers 2,
Potential benefits of mergers 3
6
cards
Price Discrimination
Premium pricing 1,
Conditions necessary for price di...,
Advantages of price discrimination 3
4
cards
Labour markets
Supply of labour maybe perfect co...,
The market supply of labour will ...,
Demand for labour maybe perfect c...
13
cards
Poverty
Progressive tax 1,
Regressive tax 2,
Causes of relative poverty 3
9
cards
Wealth and Income
Wealth and income 1,
Wealth inequality 2,
Advantages of increased equality 3
7
cards
Cost Benefit Analysis
Cost benefit analysis 1,
What are the problems with using ...,
What are the problems with using ...
4
cards
Privatisation
Privatisation and deregulation 1,
Benefits of privatisation 1 2,
Benefits of privatisation increas...
9
cards
Contestable Markets
Contestable markets 1,
Hit and run competition 2,
Contestable markets and the publi...
4
cards
Market failure table
Factor immobility occupational or...,
Public goods 2,
Demerit goods 3
7
cards
Market failure and government failure
Environmental market failure can ...,
Environmental market failure inte...,
Characteristics of pure public go...
4
cards
government failure table
Political self interest amongst p...,
Policy myopia 2,
Regulatory capture 3
8
cards
price makers/takers (concentrated markets)
Price taker 1,
Price maker 2,
Factors that influence the abilit...
3
cards
game theory
0
cards
consumer and producer surplus (concentrated markets)
Consumer surplus 1,
Consumer surplus diagram 2,
Declining consumer surplus 3
6
cards
Efficiencies
Allocative efficiency 1,
Productive efficiency 2,
Productive efficiency diagrams 3
6
cards
competition policy
Uk competition policy eval 1,
Extra 2,
Eu competition policy macro also 3
7
cards
equality and equity
Benefits of equality 1,
Limitations of equality 2,
Equality 3
4
cards
transfer earnings and economic rent (add to labour markets)
Economic rent 1,
Transfer earnings 2
2
cards
Lorenz curve (add to wealth and income)
Lorenz curve 1,
Changes in the lorenz curve 2
2
cards
buffer stock
Buffer stock 1,
Prices for agricultural products ...,
Buffer stock advantages 3
4
cards
Free market paragraph
Free market 1,
Benefits 2,
Free market 2 3
3
cards
Labour market failure
Geographical immobility causes 1,
Geographical immobility solutions 2,
Occupational immobility 3
6
cards
price mechanism
Allocation 1,
Rationing function 2,
Signalling 3
3
cards
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economics micro
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