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A Level Economics Yr12 > Microeconomics Key Terms Bank > Flashcards

Microeconomics Key Terms Bank Flashcards

A Level Economics Yr12 (57 decks)

3.1.1 - Economic Methodology and the Economic Problem

3.1.2 - The Nature and Purpose of Economic Activity

3.1.3 - Economic Resources

3.1.4 - Scarcity, Choice and the Allocation of Resources

3.1.5 - Production Possibility Diagrams

3.2.1 - Consumer Behaviour

3.2.2 - Imperfect Information

3.2.3 - Aspects of Behavioural Economic Theory

3.2.4 - Behavioural Economics and Economic Policy

3.3.1 - The Determinants of Demand

3.3.2 - Price, Income and Cross Elasticities of Demand

3.3.3 - The Supply of Goods and Services

3.3.4 - Price Elasticity of Supply

3.3.5 - The Determination of Equilibrium Market Prices

3.3.6 - The Interrelationship Between Markets

3.4.1 - Production

3.4.2 - Specialisation, Division of Labour and Exchange

3.4.3 - The Law of Diminishing Returns and Returns to Scale

3.4.4 - Costs of Production

3.4.5 - Economies and Diseconomies of Scale

3.4.6 - Marginal, Average and Total Revenue

3.4.8 - Technological Change

3.5.1 - Market Structures

3.5.2 - The Objectives of Firms

3.5.3 - Perfect Competition

3.5.4 - Monopoly and Monopoly Power

3.5.5 - The Advantages and Disadvantages of Monopoly

3.5.6 - Monopolistic Competition

3.5.7 - Oligopoly

3.5.8 - Price Discrimination

3.5.9 - The Dynamics of Competition and Competitive Market Processes

3.5.10 - Contestable and Non-Contestable Markets

3.5.11 - Market Structure, Static Efficiency, Dynamic Efficiency and Resource Allocation

3.5.12 - Consumer and Producer Surplus

3.6.1 - The Demand for Labour

3.6.2 - Influences on the Supply of Labour to Different Labour Markets

3.6.3 - Perfectly Competitive Labour Markets

3.6.4 - Imperfectly Competitive Labour Markets

3.6.5 - The Influence of Trade Unions in Determining Wages and Levels of Employment

3.6.6 - The National Minimum Wage

3.6.7 - Discrimination in the Labour Market

3.7.1 - The Distribution of Income and Wealth

3.7.2 - The Problem of Poverty

3.7.3 - Government Policies to Alleviate Poverty and to Influence the Distribution of Income and Wealth

3.8.1 - How Markets and Prices Allocate Resources

3.8.2 - The Meaning of Market Failure

3.8.3 - Private Goods, Public Goods and Quasi-Public Goods

3.8.4 - Positive and Negative Externalities in Production and Consumption

3.8.5 - Merit and Demerit Goods

3.8.6 - Market Imperfections

3.8.7 - Competition Policy

3.8.8 - Public Ownership, Privitisation, Regulation and Deregulation of Markets

3.8.9 - Government Intervention in Markets

3.8.10 - Government Failure

Microeconomics Equations

Microeconomics Key Terms Bank

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