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james smith
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Decks in this class (20)
3.1.1 Size and types of firms
Reasons why some firms remain sma...,
Reasons why firms grow 2,
Divorce of ownership control 3
10
cards
3.1.2 Business growth
Why do businesses want to grow 1,
Circumstances encouraging busines...,
Circumstances preventing business...
33
cards
3.1.3 Demergers
Demergers 1,
Reasons for demergers 2,
Impact of demergers on workers 3
5
cards
3.2.1 Business objectives
The traditional economic theory i...,
Profit maximisation 2,
Where will a firm aiming to maxim...
12
cards
3.3.1 Revenue
Revenue 1,
Total revenue 2,
Total revenue calculation 3
14
cards
3.3.2 Costs
What is a firm 1,
What is an industry 2,
How do firms generate revenue 3
31
cards
3.3.3 Economies and diseconomies of scale (main)
Economies of scale 1,
What are the 2 main types of econ...,
Internal economies of scale 3
16
cards
3.3.4 Normal profits, supernormal profits and losses ( main)
What is profit 1,
What are the two types of profit 2,
Normal profit 3
14
cards
3.4.1 Efficiency
Productive efficiency 1,
Allocative efficiency 2,
Dynamic efficiency 3
26
cards
3.4.2 Perfect competition
What are the conditions for perfe...,
What does it mean if a firm is a ...,
What does it mean if there are no...
20
cards
3.4.3 Monopolistic competition
What are the conditions for monop...,
What does it mean if there is pro...,
What does it mean if there are no...
10
cards
3.4.4 Oligopoly
Oligopoly 1,
Examples of oligopolies 2,
A market is said to be an oligopo...
27
cards
3.4.5 Monopoly
What market share is needed for a...,
Market share 2,
What is a natural monopoly 3
30
cards
3.4.6 Monopsony
What is a monopsony 1,
Are monopsonists price makers 2,
Examples of a monopsony 3
16
cards
3.4.7 Contestability
Contestability 1,
What are sunk costs 2,
What are barriers to entry 3
12
cards
3.5.1 Demand for labour
The economically active population 1,
Derived demand 2,
Potential reasons for a shift in ...
21
cards
3.5.2 Supply of labour
What is an individual s labour su...,
What is an occupation s labour su...,
What happens to the quantity of l...
19
cards
3.5.3 Wage determination
Wage differentials 1,
Reasons why wage differentials ex...,
How does elasticity of supply and...
5
cards
3.5.4 Labour market failure and government intervention
Imperfect information in the labo...,
Consequences of imperfect informa...,
Unemployment in the labour market 3
16
cards
3.6.1 Government intervention
What markets are regulatory bodie...,
Examples of regulatory bodies in ...,
What methods do regulatory bodies...
39
cards
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Theme 3
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