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Year 2 Revision of Year 1 A Level Economics

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

By: Karen Pugh
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Decks in this class (17)

Unit 1 The Economic Problem
Scarcity,
Explain this graph,
What is a free good
27  cards
Unit 1.2 The Economic Problem
Economic systems and rationality
18  cards
Unit 1.3 Opportunity Cost
Opportunity cost,
Trade off,
Production possibility curve
19  cards
2.2,2.3,.2.4 Demand, Supply and the Market Mechanism
Demand,
Individual demand,
Market demand
45  cards
Microeconomics 2.6 Elasticities of Demand
Elasticity,
Price elasticity of demand,
Ped is calculated by
49  cards
2.6 Microeconomics Elasticity of Supply
Price elasticity of supply,
Pes 0,
Pes 1
16  cards
2.7 Microeconomics The Concept of the Margin
The margin,
Marginal utility,
Total utility
15  cards
2.8 Microeconomics Market Failure
Market failure,
Socially optimal allocation,
Marginal social benefit
25  cards
Microeconomics 2.9 Information Failure
Information failure,
Asymmetric information,
Merit good
8  cards
Microeconomics 2.10 Public Goods
Public goods,
Non rejectable,
Non rivalrous
16  cards
Microeconomics 2.11 Government Intervention
Direct taxation,
Indirect taxation,
Indirect tax and inelastic ped
35  cards
Macroeconomics 1.1 Circular Flow of Income
Circular flow,
National income,
National output
12  cards
Macroeconomics 1.2 Aggregate Demand
Aggregate demand,
Consumption c,
Investment i
19  cards
Macroeconomics 1.3 Aggregate Supply and the interaction of AD and AS
Short run aggregate supply curve,
Neoclassical economists,
Monetarist school
16  cards
Macroeconomics 2.1 Economic Growth
What is economic growth,
What is the policy objective of e...
56  cards
Macro 1.5 Multiplier and Acclerator
What is the multiplier,
What does the multiplier effect p...,
How is the multiplier calculated
23  cards
Macroeconomics 2.2 Development
What are the three sectors of the...,
What is the policy objective of s...,
True or false economic growth is ...
21  cards

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Year 2 Revision of Year 1 A Level Economics

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