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Decks in this class (12)
1.1 The Economic Problem
What is the study of economics 1,
What are needs 2,
What are wants 3
7
cards
2.8 Determination Of Price In Competitive Markets
What is the equilibrium 1,
What is price in a competitive ma...
2
cards
1.2 Scarcity, Choice and Opportunity Cost
What is scarcity 1,
What is opportunity cost 2,
What is the primary sector 3
6
cards
1.3 Approaches to the Economic Problem
What is the market 1,
Name the three types of economy 2,
What is a market economy 3
7
cards
1.4 What is Specialisation?
What is specialisation 1,
What does specialisation underpin 2,
What are the benefits to the firm...
6
cards
2.1 What are competitive markets?
What is a competitive market 1,
How do firms compete 2,
Who are competitive markets good ...
4
cards
2.2 Monopoly
What is a monopoly 1,
How do firms become a monopoly 2,
What is merger and takeover 3
7
cards
2.3 Demand
What is demand 1,
What is effective demand 2,
What is a contraction in demand 3
4
cards
2.4 Increase/Decrease in demand
What are inferior goods 1,
What are the seven factors that c...,
How does population affect the de...
9
cards
2.5 Price Elasticity of Demand
What does ped stand for 1,
What does ped measure 2,
How do you measure ped 3
8
cards
2.6 Supply
What is supply 1,
What is a contraction in supply 2,
What is an extension of supply 3
7
cards
2.7 Price Elasticity of Supply
What is meant by stocks in relati...,
What is meant by spare capacity i...,
What is meant by production lags ...
4
cards
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Economics
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