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

Decks in this class (14)

Revenue
Total revenue,
Average revenue,
Marginal revenue
8  cards
Profit
What is the distinction between a...,
What are the two main aspects of ...,
What is normal profit
7  cards
Growth of Firms
What are the benefits a firm gets...,
Why does a firm want a large mark...,
What are the methods of growth hi...
9  cards
Business Objectives
Objective to maximise profit,
Objective to maximise revenue,
Objective to survive
6  cards
Efficiency
Define productive efficiency,
Which businesses would we expect ...,
Define allocative efficiency
7  cards
Market Structures
Define market structures,
What are the two main factors the...,
Barriers to entry cost of setting...
9  cards
Types Of Markets - Perfect Competition
Define perfect competition,
What are the 5 assumptions about ...,
What is the significance of there...
12  cards
Types of markets - Monopolistic competition
Define monopolistic competition,
What are the 4 assumptions of mon...,
What is the significance of their...
10  cards
Types of Markets - Oligopily
Define oligopoly,
How do you measure an oligopoly m,
What is how do we work out the co...
10  cards
Types of Markets - Monopoly
What is a monopoly,
What is a pure monopoly,
What does the government define a...
11  cards
Natural Monopoly
What is a natural monopoly,
What would happen if a new firm e...,
Advantages of monopoly
7  cards
Competition Policy, Privatisation, Nationalisation
Define nationalisation,
Define renationalisation,
What are the advantages of nation...
14  cards
Production
0  cards
Costs
0  cards

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Micro A2

  • Class purpose General learning

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