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(Micro) Economics / Paper 1

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

By: Charlie Knightley
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Decks in this class (13)

Main economic groups and factors of production
Define consumer,
Define producer,
Define government
21  cards
The basic economic problem
Define the economic problem,
Define unlimited wants,
Define scarce resources
21  cards
The role of markets
Define a market,
Define a market economy,
Define a primary sector
39  cards
Demand
Define demand,
Define law of demand,
Define individual demand
53  cards
Supply
Define supply,
Define law of supply,
Define supply curve
45  cards
Price
Define price,
Define equilibrium price and quan...,
Define determination of price
33  cards
Competition
Define competition,
Define a monopoly,
Define oligolopy
31  cards
Production
Define profit,
Define productivity,
D
65  cards
The labour market
Define a labour market,
Define supply of labour,
Define demand of labour
42  cards
The role of money and financial markets
Define money,
Define medium of exchange,
Define financial sector
32  cards
KEY terms
0  cards
Calculations
0  cards
Past Paper Questions
0  cards

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(Micro) Economics / Paper 1

  • Class purpose General learning

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