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Economics Paper 1
> 4) Production, costs, and revenue > Flashcards
4) Production, costs, and revenue Flashcards
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Economics Paper 1
(9 decks)
Definitions
1) Economic methodology + the economic problem
2) Individual economic decision making
3) Price determination in a competitive market
4) Production, costs, and revenue
5) Perfect competition, imperfectly competitive markets, and monopoly
6) The labour market
7) The distribution of income and wealth
8) The market mechanism, market failure, and government intervention in markets
