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Decks in this class (16)
L1 - The Economic Problem
What are the 4 factors of product...,
What is the economic problem 2,
What is renewable 3
6
cards
L2 - Economics As A Social Science
How do economists explain how the...,
What are models used for 2,
What is the problem with experime...
7
cards
L3 - PPF
What is a ppf 1,
What does a point inside the curv...,
What does a point outside the cur...
9
cards
L4 - Normative And Positive
What is a positive economic state...,
What is a normative economic stat...,
What words indicate an economic s...
4
cards
L5 - Specialisation And The Division Of Labour
What does the uk specialise in 1,
What is specialisation 2,
Why is specialisation good 3
19
cards
L6 - Types Of Economy
What is planning 1,
What is a market 2,
What is price mechanism 3
20
cards
L7 - Decision Making
Why is there a problem in decisio...,
What are the two types of assumpt...,
What is utility 3
8
cards
L8 - Demand
What is demand 1,
What is the law of demand 2,
What does an increase in price le...
6
cards
L9 - Supply
What is revenue 1,
How do you calculate total revenue 2,
What is supply 3
8
cards
L10/11 - Price Determination/ Taxes And Subsidies
What is excess demand 1,
What is excess supply 2,
What is the equilibrium price 3
9
cards
Lesson 12 - Elasticity
What is price elasticity of demand 1,
When is demand price elastic 2,
When is demand price inelastic 3
27
cards
L13 - Consumer And Producer Surplus
What is consumer surplus 1,
What is producer surplus 2,
What is the incidence of an indir...
11
cards
L15,16,18,19- YED/XED
What is income elasticity of dema...,
What is the formula for yed 2,
What are the values for yed 3
70
cards
L17 - Market Failure
What causes market failure 1,
What is a private cost 2,
What is an example of a private c...
40
cards
L20/21 - Government Intervention/Trade Pollution Permits
What is a maximum price 1,
What is a minimum price 2,
What is a guaranteed minimum pric...
15
cards
L22/23 - Government Regulation/ Government Failure
What is a regulation 1,
What are the command regulations 2,
What are the control regulations 3
14
cards
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Microeconomics- Theme 1
- Class purpose General learning
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