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By:
Giorgina Baldwin
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Decks in this class (45)
THEME 1 Chapter 1- Economic Problem
Opportunity cost,
Factors of production,
When there s not enough goods to ...
8
cards
Chapter 2- Business objectives
Entrepreneur is,
Business objectives 3 main ones,
What is satisficing
6
cards
Chapter 3- stakeholders
Suppliers,
Creditors,
Shareholders
8
cards
Chapter 4- entrepreneurs
What do entrepreneurs do,
Added value is,
How can value be added
3
cards
Chapter 5- why start a business
Investment,
Incentives,
Factors of production
8
cards
Chapter 12- understanding the consumer
Market research,
Primary market research,
Secondary market research
10
cards
Chapter 14- banks
Working capital,
Collateral,
The banking system is founded on ...
3
cards
Chapter 15- risk
Risk,
Financial intermediaries,
Unlimited liability
6
cards
Chapter 16- obtaining finance
Internal finance,
Personal saving,
Retained profit
14
cards
Chapter 19- revenue and costs
Sales volume,
Sales revenue,
Start up costs
11
cards
Chapter 20- costs, revenue, profit
Profit,
Sales revenue,
Sales volume
8
cards
Equations
Net cash flow,
Closing balance,
Sales volume
17
cards
Chapter 1 theme 2- Why Do Businesses Want To Grow
Economies of scale,
Internal economies of scale,
External economies
8
cards
Chapter 2- Innovation
R and d,
What does product innovation lead to,
Process innovation
3
cards
Chapter 4- Markets And Firms
Viral marketing,
Ecommerce,
Micro marketing
13
cards
Chapter 5- How Do Small Firms Compete?
Usp
1
cards
Chapter 6- PED
Ped,
Perfectly inelastic,
Inelastic
5
cards
Chapter 6- specialising
What is specialisation,
Division of labour,
Efficiency
3
cards
Chapter 7- economic change affecting business
Working capital,
Interest rates,
Income tax
6
cards
Chapter 8- demand
Effective demand,
Consumer sovereignty,
Determinants of demand
6
cards
Chapter 9- supply
Supply curve,
Determinants of supply,
Profit signalling mechanism
4
cards
Chapter 10- how prices are fixed
Equilibrium,
Disequilibrium excess supply,
Disequilibrium excess demand
5
cards
Chapter 11- price mechanism
Price mechanism,
Price mechanism functions,
Signalling
8
cards
Chapter 13- how do firms compete?
Market positioning,
Repositioning,
Sources of a competitive advantage 9
11
cards
Chapter 17- market failure
Why do markets fail,
Private costs external costs,
De merit goods
4
cards
Chapter 18- govt. intervention and failure
Mixed economies,
Government failure,
Regulation
4
cards
Chapter 21- Profit and loss
Whats the profit and loss account,
Gross profit,
Operating profit
4
cards
Chapter 22- survival and cash flow
0
cards
Chapter 7- pricing strategies
Cost plus pricing,
Penetration pricing,
Price skimming
7
cards
Chapter 8- marketing stratigies
Types of promotion
1
cards
Chapter 9- Income elasticity of demand
Yed,
Income elastic,
Unitary income elasticity
9
cards
Chapter 10- Productivity
Efficiency,
Productivity,
Infrastructure
4
cards
Chapter 11- investment
Net investment,
Capital intensive,
Labour intensive
7
cards
Chapter 12- lean production
Quality control,
Quality assurance,
Cell production
8
cards
Chapter 13- globalisation
Globalisation,
Open economies,
Structural change
8
cards
Chapter 14- developed, emerging, developing?
Developed economies,
Developing economies,
Emerging economies
4
cards
Chapter 15- international trade
Absolute advantage,
Comparative advantage,
Free trade areas
6
cards
Chapter 16- exchange rates
Floating exchange rate,
Appreciation,
Depreciation
7
cards
Chapter 18- flow of income
Dividends,
Leakages,
Injections
7
cards
Chapter 19- inflation
Inflation,
Deflation,
Disinflation
7
cards
Chapter 20- employment
Employment,
Unemployed,
Underemployment
9
cards
Chapter 21- macro
0
cards
Chapter 22- policies
Disposable income,
Net injection,
Net leakage
8
cards
Chapter 23- macro policies
High ad,
Low ad,
Free market policies
3
cards
Sampling
Random sample,
Quota sampling,
Stratified sample
4
cards
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economics
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