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Economics Unit 3
> Perfect Competition > Flashcards
Perfect Competition Flashcards
Economics Unit 3
(20 decks)
Types of Businesses
Sizes of businesses
Business Objectives
Revenue
Costs
Economies and Diseconomies of scale
Profits and Losses
Efficiency
Market Structures and Concentration Ratios
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly and Monopsony
Contestability
The Demand for labour
The supply of labour
The determination of wage rates
The market failure in the labour market
Government intervention in product markets
Government intervention in labour markets
