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Unknown Unknown
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Decks in this class (27)
Theme 1- Nature of economics (key terms)
The economic problem,
The factors of production,
Opportunity cost
16
cards
Theme 2- Economic growth (key terms)
Gdp gross domestic product,
Economic growth,
Gni gross national income
10
cards
2.1 - Measures of economic performance
What is economic growth,
What is gdp,
What is the difference between re...
57
cards
2.5 - Economic growth
What is economic growth,
What causes short run growth,
What causes long run growth
14
cards
2.4 - National Income
What is the circular flow of income,
What is the difference between in...,
What are injections and withdrawa...
11
cards
Theme 2- Investment (key terms)
Gross investment,
Depreciation,
Net investment
7
cards
Theme 2- The multiplier (key terms)
The multiplier,
Mpc marginal propensity to consume,
Mps marginal propensity to save
7
cards
Theme 2- National Income (key terms)
The extended circular flow model,
Injection,
Withdrawal
9
cards
Theme 2- Consumption (key terms)
The consumption function,
Average propensity to consume apc,
Marginal propensity to consume mpc
15
cards
2.2 - Aggregate demand
What is aggregate demand,
What are the components of aggreg...,
What is the distinction between a...
43
cards
1.2 - How markets work
How do firms use utility theory t...,
How does the government use utili...,
How do consumers use utility theo...
29
cards
Theme 2- Government expenditure (key terms)
Public expenditure,
Government revenue,
Fiscal policy
7
cards
Theme 2- Net Trade (key terms)
Exchange rates,
International competitiveness,
Non price factors
4
cards
Theme 2- Balance of payments (key terms)
Balance of payments,
Current account,
Financial account
12
cards
Theme 1- How the market works (key terms)
Normal goods,
Inferior goods,
Xed
37
cards
Theme 2- Aggregate supply (key terms)
Aggregate supply,
Short run as influences,
Long run as influences
11
cards
Theme 2- Inflation (key terms)
Inflation,
Deflation,
Disinflation
14
cards
Theme 2- Employment & Unemployment (key terms)
Claimant,
Labour force survey ilo,
Underemployment
19
cards
Theme 2- Output gaps & Business cycle (key terms)
Trend growth,
Business cycle,
Seasonal adjustments
24
cards
Theme 2- Macroeconomic objectives and policies (key terms)
Central bank policy interest rate,
Cyclical budget fiscal deficit,
Demand side policies
44
cards
2.3- Aggregate Supply
What is aggregate supply,
What is the distinction between l...,
What causes a movement along the ...
10
cards
Theme 2- Aggregate demand (key terms)
Consumption,
Aggregate demand ad,
Investment i
5
cards
Theme 1 - Market failure (key terms)
Public goods,
Non excludable,
Non rivalrous
21
cards
Theme 1 - Government intervention (key terms)
Government information,
Minimum price,
Maximum price
9
cards
2.6 - Macroeconomic objectives and policies
What are the possible macroeconom...,
What is sustained economic growth,
What is full employment
27
cards
1.3- Market failure
What is market failure,
What are the 3 types of market fa...,
What is an externality
22
cards
1.4. Government failure
0
cards
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economics
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