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H2 Economics

This class was created by Brainscape user ABIGAIL CHENG SHI QING 1AH. Visit their profile to learn more about the creator.

By: ABIGAIL CHENG SHI QING 1AH
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Decks in this class (19)

Definitions (Chapter 1-2)
Demand,
Consumer seeks to maximise,
Individual demand
27  cards
Chapter 4: Market Structures
Explicit costs,
Implicit costs,
3  cards
Inflation and Deflation
Which one of the government s mac...,
How is inflation measured,
3  cards
definitions (macroeconomics)
Inclusive economic growth,
Sustainable economic growth,
Full employment low unemployment ...
16  cards
Market Failure Definitions
Market failure,
Allocative efficiency,
Criteria for allocative efficiency
24  cards
macroeconomics - frameworks
What are a few possible causes of...,
How does an increase in cop lead ...,
Explain how extensive increase in...
6  cards
macroeconomics - key economic indicators
Define gdp,
Which of the following indicators...,
What is the formula for real gdp
12  cards
macroeconomics - circular flow of income & multiplier process
What do withdrawals constitute,
What do injections constitute,
Draw a diagram to show circular f...
6  cards
macroeconomics - 4 macro goals
Name the 4 macroeconomic goals,
Name the 2 types of economic growth,
Define inclusive economic growth
41  cards
macroeconomics - international trade
International trade,
Theory of comparative advantage,
What assumptions does the theory ...
7  cards
tys takeaways
Stockpiling,
Short run shut down condition,
3  cards
macroeconomics - policies
Types of demand management policies,
Define fiscal policy,
Explain how expansionary fiscal p...
6  cards
microeconomics - frameworks
How does an increase in demand fo...,
How does an increase in supply of...,
Explain the price adjustment process
4  cards
microeconomics - elasticities
Define income elasticity of deman...,
What goods are positive income in...,
What goods are positive income el...
18  cards
microeconomics - price mechanism
What are the four main functions ...,
Explain how prices act as signals,
Explain the incentive function of...
9  cards
microeconomics - demand & supply
Law of demand,
Demand,
Quantity demanded
15  cards
microeconomics - government intervention (dd/ss)
Specific tax,
Ad valorem tax,
Specific subsidy indirect
16  cards
microeconomics - externalities
Market failure,
Allocative efficiency,
When does allocative efficiency o...
9  cards
microeconomics - PPC
What is the production possibilit...,
What are the 4 assumptions made w...,
What is the shape of the ppc and ...
14  cards

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H2 Economics

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