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tom rawlinson
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Decks in this class (15)
1.1 The Nature of Economics
What are positive and normative s...,
What is the basic economic problem 2,
What are factors of production 3
12
cards
1.2 The Nature of Demand
How do rational consumers act 1,
What is utility 2,
What are the 2 types of utility a...
19
cards
1.3 The Nature of Supply
What is supply and the law of sup...,
What are the reasons for the law ...,
What causes a shift in supply cur...
7
cards
1.4 How markets work: price determination
What is market equilibrium 1,
What are the 2 types of market di...,
What is consumer surplus how is i...
12
cards
1.5 How markets work: The price mechanism in action + Economic systems
What is the price mechanism 1,
What are the 3 functions of the p...,
What is an economic system 3
14
cards
1.6: Market failure and externalities
What are the assumptions of consu...,
Why may individuals not act in a ...,
Why may people pay for a subscrip...
23
cards
1.7 Market failure: public goods and information gaps
Why is there market failure in th...,
What are the characteristics of p...,
Why are public goods underprovided 3
14
cards
1.8 Government intervention and government failure
What is laissez faire economics 1,
What are some examples of market ...,
What is some general evaluation o...
24
cards
3.1 Business growth and objectives
What are the differences in short...,
Why do many small firms survive 2,
Why may firms decide to stay small 3
21
cards
3.1.2 Business objectives cost/revenues
What is the law of diminishing re...,
What is the marginal average prod...,
What is product 3
37
cards
3.2 Perfect competition and monopololistic
What is efficiency what are the t...,
What is productive efficiency 2,
What is allocative efficiency 3
20
cards
3.3 Monopoly and oligopoly
What are the characteristics of a...,
What are the key assumptions 2,
What is interdependence 3
32
cards
3.4 Pricing strategies and contestable markets
What are the characteristics of a...,
What are sunk costs 2,
What conditions are required for ...
15
cards
3.5 Labour market
What is the uk employment and une...,
What are some features of the lab...,
How do you illustrate the demand ...
37
cards
3.6 Government intervention to promote competition
What are the aims of competition ...,
What are anti competitive agreeme...,
What is the cma 3
26
cards
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Micro
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