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edexcel economics (a) a-level theme 1 – introduction to markets and market failure

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

By: Keval Savani
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Decks in this class (18)

Key Definitions
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0  cards
1.1.1 Economic as a social science
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1  cards
1.1.2 Positive and normative economic statements
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2  cards
1.1.3 The economic problem
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4  cards
1.1.4 Production Possibility Frontier
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1  cards
1.1.5 Specialisation and the division of labour
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8  cards
1.1.6 Free market economies, mixed economy and command economy
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15  cards
1.2.1 Rational decision making
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2  cards
1.2.2 Demand
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2  cards
1.2.3 Price, income and cross elasticities of demand
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22  cards
1.2.4 Supply
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2  cards
1.2.5 Elasticity of Supply
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2  cards
1.2.6 Price determination
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2  cards
1.2.7 Price mechanism
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3  cards
1.2.8 Consumer and producer surplus
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4  cards
1.2.9 Indirect taxes and subsidies
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6  cards
1.2.10 Alternative views of consumer behaviour
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3  cards
1.3.1 Types of market failure
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2  cards

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edexcel economics (a) a-level theme 1 – introduction to markets and market failure

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