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exam practise economics

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

By: rianna ludhra
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Decks in this class (13)

1.1 Nature of economics
Define ppf,
Free market economywhat did hayek...,
What do producers decide in a fre...
15  cards
1.2 How do markets work
Define rational behaviour,
Why is switching from tobacco to ...,
Why is switching from tobacco to ...
27  cards
1.3 Market failure
Define market failure,
Define non rival,
Define non excludable
4  cards
1.4 Government intervention
Define government provision,
Definr government failure,
Imposition of tax effect for price
14  cards
2.1 Measure of economic peformance
Difference between gnp and gdp,
Define living standards,
Why is gdp a bad measure for livi...
36  cards
2.2 Aggregate Demand
Formula for ad,
4 reasons why ad curve is downwar...,
Interest rate effect
28  cards
2.3 Aggregate Suppply
Define aggregate supply,
Define sras,
Factors influencing sras greets
11  cards
2.4 National income
Define circular flow of income,
Define national income,
3 equations for multiplier effect
8  cards
2.5 Economic growth
Define economic growth,
Factors which cause economic growth,
Define potential growth
13  cards
2.6 Macroeconomic objectives
What are demand side policies,
What is the treasury,
Aim to decrease adcontractionary ...
32  cards
3.4 Market structures
Define productive efficiency,
Define allocative efficiency,
Define static effiency
4  cards
4.1 A global perspective
Define absolute advantage,
Define comparative advantage,
The assumptions of comparative ad...
6  cards
Macro Theorists
What is the marshall lerner condi...,
Describe marshall lerner condition,
What is the j curve effect
6  cards

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exam practise economics

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