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Decks in this class (19)
Definitions (Chapter 1-2)
Demand 1,
Consumer seeks to maximise 2,
Individual demand 3
27
cards
Chapter 4: Market Structures
Explicit costs 1,
Implicit costs 2,
Blank 3
3
cards
Inflation and Deflation
Which one of the government s mac...,
How is inflation measured 2,
Blank 3
3
cards
definitions (macroeconomics)
Inclusive economic growth 1,
Sustainable economic growth 2,
Full employment low unemployment ...
16
cards
Market Failure Definitions
Market failure 1,
Allocative efficiency 2,
Criteria for allocative efficiency 3
24
cards
macroeconomics - frameworks
What are a few possible causes of...,
Explain what happens when importe...,
Explain how extensive increase in...
6
cards
macroeconomics - key economic indicators
Define gdp what is a relevant mac...,
Which of the following indicators...,
What is the formula for real gdp 3
12
cards
macroeconomics - circular flow of income & multiplier process
What do withdrawals constitute 1,
What do injections constitute 2,
Draw a diagram to show circular f...
6
cards
macroeconomics - 4 macro goals
Name the 4 macroeconomic goals 1,
Name the 4 types of economic grow...,
Define inclusive economic growth 3
41
cards
macroeconomics - international trade
International trade 1,
Theory of comparative advantage 2,
What assumptions does the theory ...
7
cards
tys takeaways
Stockpiling 1,
Short run shut down condition 2,
Blank 3
3
cards
macroeconomics - policies
Types of demand management polici...,
Define fiscal policy 2,
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 proc...
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 the signalling function o...,
Explain the incentive function of...
9
cards
microeconomics - demand & supply
Law of demand 1,
Demand 2,
Quantity demanded 3
15
cards
microeconomics - government intervention (dd/ss)
Specific tax indirect 1,
Ad valorem tax 2,
Specific subsidy indirect 3
16
cards
microeconomics - externalities
Market failure 1,
Allocative efficiency 2,
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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