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Ria Bachetta
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Decks in this class (35)
LS3 - Costs and Revenues
Q what key decisions do firms nee...,
Q what does this section focus on...,
Q for simplicity
49
cards
LS4 - Economies Of Scale
What happens to inputs in the lon...,
What are the three types of retur...,
What is meant by constant returns...
34
cards
LS5 - Profit And Loss
What costs do economists include ...,
What is opportunity cost,
How do economists calculate profit
22
cards
LS6 - Business Objectives
What is one business objective a ...,
What did william baumol argue abo...,
At what point is total revenue ma...
16
cards
LS7 - Efficiency
What is efficiency concerned with...,
Define productive efficiency,
Describe the decision process for...
10
cards
LS8 - Perfect Competition
What are the assumptions of perfe...,
Describe how firms profit maximis...,
Why are there many participants i...
12
cards
LS9 - Demand And Supply For Labour
What kind of demand is demand for...,
Describe the structure of the lab...,
What factors can shift the demand...
43
cards
LS10 - Monopoly
What is a monopoly in economic terms,
What is the role of the competiti...,
What are the key assumptions of t...
15
cards
LS11 - Monopolistic Competition
What are the characteristics of m...,
Who are some theorists associated...,
Give an example of a monopolistic...
11
cards
LS12 - Labour Market Issues
What is a zero hours contract,
Who is more likely to be on zero ...,
What trend was observed in zero h...
12
cards
LS13 - Oligopoly
What are the characteristics of o...,
What is a concentration ratio,
Describe the independence levels ...
27
cards
LS14 - Contestable Market
What are the characteristics of a...,
What is a sunk cost,
What benefits can contestable mar...
12
cards
LS15 - Monopsony & Natural Monopoly
Describe what a monopoly is also ...,
Describe using the real life exam...,
Describe what suppliers experienc...
12
cards
Ls16 - Monopolies, Mergers
Why is government revaluation oft...,
State a few methods of regulation...,
Describe how the cma limits the d...
21
cards
LS17 - Competition, Protecting Suppliers and Workers
Why do governments support smes a...,
What problems do start ups and sm...,
What can the government do to sup...
7
cards
3.1.1 Sizes and Types of Firms
Why might some firms tend to rema...,
Describe managerial diseconomies ...,
What are some solutions to the pr...
5
cards
3.1.2 Business Growth
How might businesses grow,
What are the advantages and disad...,
What are the advantages and disad...
6
cards
3.1.3 Demergers
What are some reasons for demergers,
What are some impacts of demergers
2
cards
3.2.1 Business Objectives
What are some different business ...,
How would profit maximisation be ...,
How would sales maximisation be c...
4
cards
3.3.1 Revenue
Define total revenue and explain ...,
Define average revenue and explai...,
Define marginal revenue and expla...
4
cards
3.3.2 Costs
How do you calculate total cost t...,
How do you calculate 1 average to...,
What is the shape of the short ru...
3
cards
3.3.3 Economies and Diseconomies of Scale
What are the types of economies o...,
What are the types of diseconomie...,
What is minimum efficient scale mes
5
cards
3.3.4 Normal Profits, Supernormal Profits and Losses
What are the conditions for profi...,
Define normal profit,
Define supernormal profit economi...
4
cards
3.4.1 Efficiency
Define allocative efficiency,
Define productive efficiency,
Define dynamic efficiency
9
cards
3.4.2 Perfect Competition
What are the characteristics of p...,
Where is profit maximizing equili...,
Where is profit maximizing equili...
3
cards
3.4.3 Monopolistic Competition
What are the characteristics of m...,
Where is profit maximizing equili...,
Where is profit maximizing equili...
3
cards
3.4.4 Oligopoly
What are the characteristics of a...,
How is the n firm concentration r...,
What are the reasons for collusiv...
9
cards
3.4.5 Monopoly
What are the characteristics of a...,
Where is profit maximizing equili...,
What is third degree price discri...
6
cards
3.4.6 Monopsony Power
What are the characteristics and ...,
What are the costs of a monopsony,
What are the benefits of a monopsony
3
cards
3.4.7 Contestability
What are the characteristics of a...,
How does the contestability of a ...,
What are the different types of b...
4
cards
3.5.1 Labour Demand
Factors impacting demand for labour,
Describe the demand for labour
2
cards
3.5.2 Labour Supply
What is labour supply,
What are some factors influencing...,
Describe two causes of market fai...
5
cards
3.5.3 Wage Determination
What are some current labour mark...,
What are the three types of gover...,
Describe the impacts of elasticit...
4
cards
3.6.1 Government Intervention
What kind of government intervent...,
What kind of government intervent...,
What kind of government intervent...
5
cards
3.6.2 The Impact Of Government Intervention
What are some impacts of governme...,
What are some limits to governmen...,
What are some impacts of governme...
8
cards
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Economics Theme 3
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