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hannah s
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Decks in this class (36)
Individual Economic Decision Making
What is utility 1,
What is total utility 2,
What is marginal utility 3
9
cards
Imperfect Information
When does information failure occ...,
Causes of information failure 2,
Examples of asymmetric information 3
4
cards
Behavioural Economics
What is bounded rationality 1,
What is heuristics 2,
What are default biases in choices 3
21
cards
Behavioural Economics 2
What are public sector organisati...,
Examples of public sector organis...,
What is privatisation 3
12
cards
Production And Productivity
What is production a measure of 1,
What is productivity a measure of 2,
What is productivity in the lr 3
15
cards
Law Of Diminishing Returns
What is the short run 1,
What is the long run 2,
What is marginal product 3
11
cards
Costs Of Production
What is total cost tc 1,
What is average cost ac 2,
What is marginal cost 3
3
cards
Economies And Diseconomies Of Scale
What is economies of scale 1,
How can you tell economies of sca...,
What is the long run curve made of 3
19
cards
Marginal, Average And Total Revenue
What is the ar curve the same 1,
What is total revenue tr 2,
When does maximum total revenue o...
6
cards
Profit
What is normal profit 1,
What do normal profits reflect 2,
What is sub normal profit 3
17
cards
Technological Change
What are the two types of innovat...,
What is a pure play 2,
Examples of a pure play 3
8
cards
Efficiency
What is efficiency 1,
When is allocative efficiency rea...,
Main condition required for alloc...
9
cards
Market Structures
What are the most important featu...,
Cost factors that influence compe...,
What are natural cost advantages 3
11
cards
Business Objectives
When does revenue maximisation oc...,
When does sales maximisation occur 2,
What is satisfying behaviour 3
18
cards
Divorce Between Ownership And Control & The Principle Agent Problem
What are the interests of shareho...,
What are the interests of manager...,
What are the interests of custome...
15
cards
Perfect Competition
Assumptions of perfect competition 1,
What is the key objective within ...,
Examples of homogenous standardis...
18
cards
Monopolistic Competition
What is monopolistic competition ...,
Assumptions of monopolistic compe...,
Examples of monopolistic competit...
17
cards
Oligopoly
What is an oligopoly 1,
What is the concentration ratio f...,
Assumptions of the model 3
17
cards
Oligopoly 2
What is game theory 1,
Who is a part of the game 2,
What are simultaneous games 3
10
cards
Oligopoly 3
What are the types of collusion 1,
Key aims of business collusion in...,
When is collusion illegal 3
24
cards
Price Discrimination
What is price discrimination 1,
Necessary conditions for price di...,
Main aims of price discrimination 3
15
cards
Contestable And Non-Contestable Markets
What isn t considered important w...,
What is more focus on within cont...,
Are all markets contestable 3
14
cards
Monopoly
What is a pure monopolist 1,
What is a working monopoly 2,
What is a dominant firm 3
33
cards
Labour Market
What does the demand for labour s...,
In the theory of competitive labo...,
Formula for mrpl 3
13
cards
Labour Market 2
What is the labour supply 1,
What does an outward shift of the...,
Why would people become more will...
23
cards
Labour Market 3
Factors that may cause a gender p...,
In less developed and more develo...,
What do trade unions do 3
12
cards
Labour Market 4
Causes of labour market failure 1,
Policies to reduce occupational m...,
Policies to improve geographical ...
14
cards
Distribution Of Income And Wealth
Key labour market issues uk 1,
What is the claimant count jsa 2,
What is the labour force survey l...
17
cards
Government Policies To Alleviate Poverty And Influence Income And Wealth Inequality
What are welfare state transfers 1,
What are state provided services 2,
What is original income 3
7
cards
Problem Of Poverty
What is absolute poverty 1,
What is relative poverty 2,
What is the official poverty line 3
9
cards
Government Intervention
What are the aims of competition ...,
What does competition policy aim ...,
How does competition policy aim t...
10
cards
Government Intervention To Control Monopolies
Types of government intervention ...,
How does a tax on profits reduce ...,
How does a liberalisation of mark...
23
cards
Intervention To Promote Competition And Contestability
Example of intervention to promot...,
What does de regulation of market...,
Techniques often used with the de...
13
cards
Market Intevention - Privitisation
What is privatisation 1,
Case for privatisation 2,
Counter arguments for privatisati...
7
cards
Government Intervention To Protect Suppliers And Employees
Two options of how the government...,
What does the buying power of a m...,
What is one option for interventi...
4
cards
Impact Of Government Intervention
What indicators might be used to ...,
Examples of intervention into mar...,
Regulations on max co2 emissions ...
12
cards
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Economics REVISION 5 (micro)
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