This class was created by Brainscape user Oskar Malik. Visit their profile to learn more about the creator.
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Oskar Malik
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Decks in this class (19)
3.1.1 - sizes and types of firms
Why do some firms grow and some s...,
What is the principal agent problem,
What are the distinctions between...
4
cards
3.1.2 - business growth
What is organic growth,
What are advantages of organic gr...,
What are disadvantages of organic...
14
cards
3.1.3 - demergers
What is,
What are the reasons for demergers,
What impacts do demergers have
3
cards
3.2.1 - business objectives
What is profit max,
What are the conditions for profi...,
What is revenue max
6
cards
3.3.1 - revenue
What is revenue and its equations,
What is the significance of price...,
Formulae to calculate and underst...
4
cards
3.3.2 - costs
Formulae to calculate and underst...,
Formulae to calculate and underst...,
Formulae to calculate and underst...
9
cards
3.3.3 - economies and diseconomies of scale
Types of economies and diseconomi...,
Minimum efficient scale,
Distinction between internal and ...
3
cards
3.3.4 - normal profits, supernormal profits and losses
Condition for profit maximisation,
Normal profit supernormal profit ...,
Short run and long run shut down ...
3
cards
3.4.1 - efficiency
What is allocative efficiency,
What is productive efficiency,
What is dynamic efficiency
4
cards
3.4.2 - perfect competition
What is,
What are the characteristics of a...,
Describe how the profit of a firm...
4
cards
3.4.3 - monopolistic competition
What is a monopolistic competitiv...,
What are the characteristics of a...,
Describe how the profit changes i...
4
cards
3.4.4 - oligopolies
What is an oligopoly,
What are the characteristics of a...,
Describe kinked demand in an olig...
12
cards
3.4.5 - monopolies
What is a monopoly,
What are the characteristics of a...,
What is third degree price discri...
8
cards
3.4.6 - monopsony
What is monopsony power,
What are the costs and benefits o...
2
cards
3.4.7 - contestability
What is contestability,
What are the characteristics of a...,
What are the implications of a co...
4
cards
3.5.1 - demand for labour
What is demand for labour,
What are the factors that affect ...,
What is derived demand
3
cards
3.5.2 - supply of labour
What is labour supply,
What are the factors that affect ...,
What is market failure in the lab...
5
cards
3.5.3 - wage determination
What is the labour market equilib...,
What are the current issues in th...,
How does the government intervene...
7
cards
3.6.1 - government intervention
How does the government control m...,
How are price caps used to contro...,
How does the government use profi...
9
cards
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theme 3
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