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Joe Wood
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Decks in this class (24)
1.3.2 Externalities
What is an externality,
What is a private benefit,
What is an external benefit
13
cards
1.3.3 Public Goods
What is a private good,
What is a public good,
What is non excludability
5
cards
1.2.6 Price Determination
What is the equilibrium,
How are prices determined,
What is a market
7
cards
1.2.7 Price Mechanism
What does adam smith call the pri...,
What markets does the price mecha...,
What are the 3 functions of the p...
7
cards
1.2.8 Producer And Consumer Surplus
What is producer surplus,
What is consumer surplus,
What is the formula for social su...
3
cards
1.2.9 Indirect Taxes And Subsidies
What is an indirect tax,
What are the 2 types of indirect tax,
What is specific tax
9
cards
1.2.10 Alternative Views To Consumer Behaviour
What is rational decision making,
What factors can influence people...,
What is neuro branding
7
cards
1.1.5 Specialisation And The Division Of Labour
What is division of labour,
What is specialisation,
What are the pros of division of ...
4
cards
1.4.2 Government Failure
What is government failure,
What are the effects of governmen...,
What are the causes of government...
5
cards
1.2.3 Price, Income And Cross Elasticities Of Demand
What is ped,
What will the ped value always be,
What does a ped value of 0 mean
21
cards
1.1.6 Free Market, Mixed And Command Economies
What is a free market economy,
Who advocated a free market economy,
What is a mixed economy
14
cards
2.1
What is the balance of payments,
What is the current account,
What is a current account deficit
45
cards
3.4 Market Structures
What is allocative efficiency,
What is productive efficiency,
What is dynamic efficiency
34
cards
3.2 Business Objectives
At what point is profit maximisat...,
Why do firms profit maximise,
At what point is revenue maximisa...
6
cards
3.1 Business Growth
Reasons why firms grow,
Reasons why small firms exist,
What is the principle agent problem
18
cards
4.1 International Economcis
What is globalisation,
What are the causes of globalisation,
What are the pros of globalisation
54
cards
3.5
What are the factors that influen...,
What does derived demand mean,
What are the factors that influen...
14
cards
3.3 Revnue, Costs And Profit
What is perfect competition,
What is imperfect competition,
What is the total revenue rule
8
cards
4.4 The Finanical Sector
What do financial markets do,
What is asymmetric information,
What is moral hazard
5
cards
2.6
Why is there a trade off between ...,
Why is there a trade off between ...,
Why is there a trade off between ...
5
cards
4.2 Poverty And Inequality
What is absolute poverty,
What is relative poverty,
What is income inequality
9
cards
4.3 Emerging And Developing Economies
What is economic development,
What are the advantages of of usi...,
What are the disadvantages of usi...
16
cards
4.5 Role Of The State In The Macroeconomy
What are the factors affecting th...,
What is a progressive tax system,
What is a regressive tax system
10
cards
3.6 Government Intervention
What are the types of interventio...,
What are the types of interventio...,
What are the types of interventio...
5
cards
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