This class was created by Brainscape user aimee b-r. Visit their profile to learn more about the creator.
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aimee b-r
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Decks in this class (12)
1.1 Nature of Economics
What are the advantages disadvant...,
Characteristics of a command econ...,
Advantages and disadvantages of a...
10
cards
1.2.2-1.2.4 - Demand, PED/IED/XED & Market Supply
What is the substitution effect 1,
What is the income effect 2,
What are the causes of shifts in ...
12
cards
1.2.9-10 Indirect taxes + subsidies; alternative views of consumer behaviour
What is the effect of indirect ta...,
What is the effect of indirect ta...,
What is the effect of indirect ta...
11
cards
3.1.1 Sizes + types of firms
why firms choose to grow or stay small, public vs private sectors, etc.
10
cards
3.1.2-3 Business Growth + Demergers
includes the diff. types of mergers, why a businesses may choose to grow organically or inorganically, and demergers
16
cards
3.2-3 Business objectives; Revenues, costs + profits
What is meant by economies of sca...,
What are the 6 types of internal ...,
Reasons for external eos 3
11
cards
3.4.1 Efficiency
What is meant by allocative effic...,
What is meant by productive effic...,
What is meant by dynamic efficien...
9
cards
3.4.4 Oligopoly
oligopoly, characteristics, game theory, etc.
19
cards
3.4.5 Monopoly
What is meant by price discrimina...,
Condition for using price discrim...,
What are the costs and benefits o...
11
cards
3.4.6-7 Monopsony + Contestability
What is meant by monopsony 1,
What are benefits to consumers of...,
Pros and cons of monopsony power ...
10
cards
3.5 Labour Market
What happens in the lr when wage ...,
What happens in the sr when wage ...,
What is meant by derived demand 3
42
cards
3.6 Government Intervention
includes the impact of government intervention (3.6.2) and interventionalist policies (3.6.1)
29
cards
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microeconomics
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