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MicroEconomics

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

By: James Chadwick
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Decks in this class (11)

1.1 The Economic Problem
Explain what an economic good is,
Explain what a free good is,
Explain the economic problem
16  cards
1.2 The Allocation of Resources (not complete)
Explain why resources need to be ...,
Explain the incentives to firms,
Explain market economies
7  cards
2.10 - Public Goods incomplete
Explain what is meant by the term...,
What is meant by the term non exc...,
What is meant by the term non riv...
8  cards
3.1 Business Objectives
Explain profit maximisation objec...,
Explain sales revenue maximisat,
Explain sales volume maximisation...
11  cards
3.2 Costs and Economies of Scale
Explain fixed costs,
Explain variable costs,
Explain and calculate
15  cards
3.2.1 Internal Economies Of Scale (IEoS)
Define an internal economy of scale,
What is a technical economy of scale,
What is specialisation of the wor...
10  cards
3.3 Revenue & Profit
Explain and calculate total revenue,
Explain and calculate average rev...,
Exp
6  cards
4.1 Perfect Competition
Explain the characteristics of pe...,
Explain and draw a diagram for pc...
2  cards
4.2 Monopolies
Explain the characteristics of a ...,
Explain dynamic efficiency,
Explain x inefficiency
3  cards
5.1 Demand For Labour
Explain derived demand for labour,
Explain factors affecting the dem...,
Explain how the wage rate will af...
14  cards
5.3 The Interaction of Labour Markets (incomplete)
Explain and list examples of wage...,
Explain what a monopsony power is,
Evaluate how monopsony powers aff...
4  cards

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MicroEconomics

  • Class purpose General learning

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A Level Economics
  • 50 decks
  • 1987 flashcards
  • 1099 learners
Decks: Section 1 The Economic Problem, Section 2 Competitive Markets, Section 3 Business Economics, And more!
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