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Edexcel A - Microeconomics: Theme 1 & 3

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

By: rowida ahmed
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Decks in this class (10)

1.1 - The nature of economics
Define factors of production and ...,
Define capital goods 2,
Define ceteris paribus 3
52  cards
1.2 - How markets work
Define a contraction in demand la...,
Define a contraction in supply 2,
Define an extension in demand 3
66  cards
1.3 - Market failure
0  cards
1.4 - Government intervention
0  cards
3.1 - Business growth
State 5 reasons as why to some fi...,
Explain how benefiting from econo...,
Explain how increasing market pow...
67  cards
3.2 - Business objectives
Explain profit satisficing 1,
Explain sales maximisation 2,
Explain sales revenue revenue max...
4  cards
3.3 - Revenues, costs and profits
Define costs 1,
Define total cost 1,
Define fixed costs 2
43  cards
3.4 - Market structures
Define monopoly 1,
State the characteristics of a mo...,
Define barriers to entry 3
8  cards
3.5 - The labour market
Define the labour market 1,
Define wages 2,
Define nominal wages 3
46  cards
3.6 - Government intervention in product markets
State the aims of competition law 1,
State the types of behaviour uk c...,
State the role of the regulator 3
24  cards

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Edexcel A - Microeconomics: Theme 1 & 3

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