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Tara Kod
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Decks in this class (41)
Lesson 1- The Economic Problem
Define economics 1,
Define resources 2,
Define needs and wants 3
13
cards
Lesson 2- Economic Assumptions
Define the concept of consumer ra...,
What are some exceptions to this ...
2
cards
Lesson 3- The Demand Curve
Define market 1,
Define demand 2,
Define demand schedule 3
10
cards
Lesson 4- Factors that may shift the Demand curve
What are other factors that affec...,
What will happen to the demand cu...
2
cards
Lesson 5- The supply curve
Define supply 1,
Define supply schedule 2,
What is the law of supply 3
7
cards
Lesson 6- Factors that may shift the supply curve
What are other factors that affec...,
What are the two indirect taxes a...
2
cards
Lesson 7- The market equilibrium
Define market equilibrium 1
1
cards
Lesson 8- Price elasticity of demand
Define price elasticity of demand 1,
What is the formula for ped 2,
What is price inelastic demand 3
15
cards
Lesson 9- Price elasticity of supply
Define pes 1,
How to calculate pes 2,
What is the value for perfectly i...
9
cards
Lesson 10-Income Elasticity
Define income elasticity of demand 1,
What is the formula of yed 2,
Define income elastic 3
9
cards
Lesson 11- The mixed economy
Define market economy 1,
Define a command economy 2,
What are examples of command econ...
4
cards
Lesson 12-Privatization
Define privatization 1,
Reasons for privatization 2 2,
Effects of privatization on consu...
4
cards
Lesson 13-Externalities
Define market failure 1,
State the two types of market fai...,
Define externalities 3
32
cards
Lesson 14- The factors of production and sectors of the economy
Define primary sector 1,
Define secondary sector 2,
Define tertiary sector 3
6
cards
Lesson 15-Productivity and Division of labour
Define production 1,
Define productivity 2,
What is the formulae for producti...
7
cards
Lesson 16-Business costs,revenue and profit
Define fixed costs 1,
What is another name for fixed co...,
Define variable costs 3
10
cards
Lesson 17-Economies and diseconomies of scale
Define economies of scale 1,
Define internal economies of scale 2,
Blank 3
3
cards
Lesson 18- Competitive markets
What are the 5 features of a comp...,
What are the effects of a highly ...,
Define competitive market 3
4
cards
Lesson 19-Advantages and disadvantages of a large and small firms
What are the 3 ways to measure th...,
Define capital emplyed 2,
State the 4 advantages of a firm ...
7
cards
Lesson 20-Monopoly
Define a monopoly 1,
State 3 features of a monopoly 2,
State 2 advantages of monopolies 3
4
cards
Lesson 21-Oligopoly
Define a oligopoly 1,
State 6 features of a oligopoly 2,
Define collusions 3
7
cards
Lesson 22-Labor Market
Define labor market 1,
What is the demand for labor 2,
What kind of relationship is seen...
7
cards
Lesson 23-The impact of changes in the supply and demand for labor and trade union activity in labor markets
Define trade unions 1,
State 4 functions of a trade union 2,
Define labor productivty 3
5
cards
Lesson 24-Government intervention
State 4 reasons why the governmen...,
Define the national minimum wage 2,
Why does the government set a nat...
6
cards
Lesson 25- Economic Growth
Define economic growth 1,
Define gdp per head 2,
Define real gdp 3
9
cards
Lesson 26-Inflation
Define the term inflation 1,
What are the two types of inflati...,
Define deflation 3
9
cards
Lesson 27-Unemployment
Define unemployment 1,
How is unemployment measured 2,
What factors does the person have...
14
cards
Lesson 28- Balance of payments on the current account
Define the bop 1,
What is the bop divided into 2,
Define current account 3
19
cards
Lesson 30-Redistribution of Income
Define income inequality 1,
3 reasons for income inequalities 2,
How is the income inequality meas...
14
cards
Lesson 31-Fiscal Policy
Define macroeconomic policies 1,
What are the two types of governm...,
Define demand management policies 3
24
cards
Lesson 32-Monetary policy
Define the monetary policy 1,
Define interest rates 2,
Define and explain the expansiona...
5
cards
Lesson 33-Supply side policies and government controls
Define supply side policies 1,
What steps can be taken by a gvt ...,
8 limitations of supply side poli...
3
cards
Lesson 34-Relationships between objectives and policies
What are the six conflicts in the...,
Explain the conflict between infl...,
Explain the conflict between econ...
7
cards
Lesson 35-Globalisation
Define globalization 1,
Explain four reasons for globaliz...,
Six advantages of globalization 3
4
cards
Lesson 36-Multiantional companies and foreign direct investments
Define fdi s 1,
What are the methods used by a go...,
Define development aid 3
8
cards
Lesson 37-International Trade
Define international trade 1,
4 advantages of international tra...,
4 disadvantages of international ...
3
cards
Lesson 38-Protectionism
Define protectionism 1,
4 reasons for protectionism 2,
Define dumping 3
12
cards
Lesson 40-Trading Blocs
Define a trading bloc 1,
4 advantages of trading blocs 2,
5 disadvantages of trading blocs 3
3
cards
Lesson 41-The world trade organization and world trade patterns
What is a wto 1,
What are the aims of the wto 2,
State an advantage of the wto 3
7
cards
Lesson 42-Exchange rates
Define exchange rates 1,
How is the exchange rate determin...,
Explain the 4 factors affecting t...
19
cards
Defintions
Define resources 1,
Define goods 2,
Define services 3
30
cards
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GCSE Economics
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