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ib ak
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Decks in this class (37)
economics as a social science(1.1.1)
What are the 3 economic agents,
What does ceteris paribus mean,
Why is there an inability to make...
82
cards
market failure(1.3)&Gov intervention(1.4)
What is market failure,
What are the 3 types of market fa...,
Define externalities
36
cards
Theme 2:2.1-Measures of economic performance
What is the difference between no...,
What is actual economic growth me...,
What is gni
57
cards
Theme 2:2.2-AD
What are are the components of ad,
Define ad,
What was the breakdown on real gd...
16
cards
Theme 2:2.3 AS
What is as,
What is a movement up the as curv...,
What is a movement down the as cu...
11
cards
Theme 2: 2.4 National income
What does the circular flow diagr...,
What is the difference between a ...,
Injection information
19
cards
Theme 2: 2.5 Economic growth
Factors that can cause economic g...,
Factors that can cause economic g...,
Difference between potential grow...
17
cards
Theme 2:2.6 Macroeconomic objectives and policies
7 government objectives,
Difference between fiscal and mon...,
What is monetary policy
33
cards
Theme 2:2.6.3:Supply side policies
Supply side policies,
Market based supply side policy d...,
Interventionist supply side polic...
19
cards
Theme 3:3.1-Business Growth
What are the 6 main ways to measu...,
Reasons why firms grow,
Reasons why firms stay small
38
cards
Theme 3:3.2-Business Objectives
Pros of profit maximisation,
Cons of profit maximisation,
What is a stakeholder
13
cards
Theme 3:3.3- Revenues, costs and profits
What is revenue,
Formula for total revenue,
Formula for average revenue
34
cards
Theme 3:4.1:Efficiency
What are all the types of competi...,
Allocative efficiency,
X efficiency
10
cards
Theme 3:4.2-3:Perfect competition and Monopolistic competition
What are all the types of competi...,
Characteristics of perfect compet...,
What is an industry example of pe...
15
cards
Theme 3.4:Market Structure
What is allocative efficiency,
What is productive efficency,
What is x inefficieny
17
cards
Theme 3:4.4:Oligopoly
What is an oligopoly,
Characteristics of an oligopoly,
How to you calculate the n firm c...
26
cards
Theme 3:3.4.5:Monopoly
Characteristics of monopoly,
Type of efficiencies in this market,
Monopoly diagram in the short run...
14
cards
Theme 3:4.6:Monopsont and contestability
What is a monopsony,
Monopsony diagram,
Costs and benefits of monopsony t...
15
cards
Theme 3:3.5:Labour market
Factors that affect the demand fo...,
What is derived demand,
Factors that affect supply for la...
17
cards
Theme 3:3.6:Gov Intervention
Cma and their job,
When is a merger approved and dis...,
Problems with cma
23
cards
Theme 3.6.2: the impact of gov intervention
What does gov intervention have a...,
Impact on prices,
Impact on profit
5
cards
Theme 4:4.1:Globalisation
Define globalisation,
Characteristics of globalisation,
What are the factors contributing...
11
cards
Theme 4:4.2:Specialisation and Trade
What is absolute advantage,
What is comparative advantage,
Limitations of comparative advanatge
5
cards
Theme 4:4.3 pattern of trade
What are the 4 reasons why a coun...,
Explain as a reason why countires...,
Explain as a reason why countries...
9
cards
Theme 4:1.4:Terms of Trade
What is terms of trade tot,
What are the short run factors th...,
What are the short run factors th...
6
cards
Theme 4:1.5:Trading blocs and the World Trade Organisation (WTO)
What is a trading bloc,
What are examples of trading bloc...,
What is a free trade area
14
cards
Theme4:1.6:Restrictions on free trade
What are the 6 reasons for restri...,
Explain job protection as a reaso...,
What are the types of restriction...
14
cards
Theme 4:1.7:Balance of Payments
Bop definition,
Components of bop,
Current account
12
cards
Theme4:4.1.8-Exchange rates
Types of exchange rates,
Floating system,
Managed float
18
cards
Theme 4:1.9:International competitiveness
What are the measures of internat...,
Factors influencing international...,
Benefits of international competi...
4
cards
Theme 4:2:Poverty and Inequality
What is absolute poverty,
What is relative povery,
Define poverty
18
cards
Theme 4:3.1 and 4:3.2 :Measures of development and Factors influencing growth and development
What is hdi composed of,
What is the number range for hdi,
What are the pros of hdi
18
cards
4.3.3:Strategies influencing growth and development
List the market orientated strate...,
Interventionist based strategies ...,
Other strategies influencing grow...
4
cards
ACRONYMS
Popsicle theme 3,
Digestif theme 3,
Digestif theme 3
5
cards
Theme 4:4.5.1:Public expenditure
Types of public expenditure,
Capital gov expenditure,
Transfer payments
15
cards
Theme 4:4.5.2:Taxation
3 roles of tax,
Progressive tax,
Regressive tax
6
cards
Theme 4:4.4.1:Role of the financial markets
Wnat is a financial market,
Roles of the financial market,
Facilitate saving
8
cards
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econ
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