This class was created by Brainscape user Ruby Campbell. Visit their profile to learn more about the creator.

Decks in this class (33)

perfect competition, imperfectly competitive markets and monopoly
Profit maximisation,
Why do firms aim to profit maximise,
Why might firms not want to aim f...
97  cards
labour market
What is the supply of labour dete...,
What type of demand is labour,
What does the downard sloping dem...
49  cards
monetary policy
What are the four functions of money,
What is the money supply,
What is narrow money
55  cards
Production,costs And Revenues
What are the different types of e...,
Types of diseconomies of scale,
Define economies of scale
22  cards
Market Mechanism And Market And Government Failure
What are the 4 functions of prices,
Signalling function,
After signalling what does the in...
59  cards
Individual Economic Decision Making
What does an individuals demand c...,
Define rational behaviour,
Define utility
22  cards
Distribution Of Income And Wealth
Difference between income and wealth,
How is income measured by world bank,
How are countries categorised by ...
21  cards
The Objectives Of Government Economic Policy
What are the four main objectives,
Define short run economic growth,
Define long run economic growth
31  cards
How The Macreoeconomy Works
What is national income,
How is the flow of national outpu...,
What is national capital stock
44  cards
economic performance
Define inflation,
What happened to inflation in the...,
Two basic causes of inflation
76  cards
Economic Methodology
Positive statement,
Normative statement,
15  cards
marginal analysis and market failure
Two types of market failure,
Private goods,
Private property rights
18  cards
The International Economy
Main characteristics of globalisa...,
Consequences of globalisation les...
13  cards
Balance Of payments
Balance of payments,
Current account,
Why might the current account be ...
29  cards
Key Equations
Total cost,
Average costs,
Marginal cost
39  cards
supply side policy
Supply side definition,
2 types of ssp,
Intervention ssp
21  cards
employment and unemployment
Unemployment definition,
How can unemployment be calculated,
Real wage unemployment
15  cards
price mechanism
3 main functions,
What does the rationing function do
15  cards
exchange rates
Floating exchange rates,
Fixed exchange rates
21  cards
Currency volitality,
Impact of depreciation on inflaiton,
Impact of depreciation on economi...
7  cards
marginal, average and total rev
Mr definition,
Tr definitio,
Ar definition
8  cards
Normal p,
3 reaso
5  cards
financial markets, types of banks, monetary policy, regulation
4 functions of money,
Money supply,
Narrow money
28  cards
Yed definition,
Yed formula,
In most cases yed is
5  cards
price determination in a competitive market
Demand curve shows,
Changes in price cause ____ of de...
30  cards
financial markets and monetary policy
Debt finance,
Equity finance,
6  cards
15 marker bank
Commercial bank defintiion,
Investment bank
9  cards
Where is productive efficiency,
What is productive efficiency,
Allocative efficiency
11  cards
Fiscal Policy
What is fiscal policy,
How is g financed
44  cards
Supply Side Policy
Supply side policies,
Supply side economy,
Succesful ssp
21  cards
behavioural economics theory
Assumptions of rational decision ...,
What influences decisions,
18  cards
Marginal utility,
Maximise ssatisfcation
10  cards
national income date
National income,
Limitation of ni date to compare ...,
5  cards

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