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By:
Lewis Scholes
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Decks in this class (52)
Lesson 1-What is Economics?
What does eco mean,
What does nomos mean,
What is economics the study of
16
cards
Lesson 2-Measuring Economic performance
How could you measure how well ho...,
How could you measure how well fi...,
How could you measure how well go...
5
cards
Lesson 3 - GDP
Define gdp,
What is the market value of a pro...,
What does gdp count
9
cards
Lesson 4 - The circular flow of income
What is the circular flow of income,
What does the circular flow of in...,
What does the circular flow of in...
8
cards
Lesson 5 Measuring growth as a change in GDP
What is real gdp,
What is nominal gdp,
What is purchasing power parity
5
cards
Lesson 6 - limitations of GDP
What are the six limitations of gdp,
What does the black market refer to,
What are non market activities
4
cards
Lesson 7 - Inflation
Define inflation,
Define deflation,
Define disinflation
10
cards
Lesson 8-The causes of inflation
What are the 3 causes of inflation,
What is demand pull inflation cau...,
What is demand pull inflation oft...
7
cards
Lesson 9 - The costs of inflation
Give a reason why high inflation ...,
Give another reason why high infl...,
Give another reason why high infl...
3
cards
Lesson 12 - Trade
What is trade,
Why do countries trade,
What does specialising in certain...
12
cards
Lesson 13 - Components of aggregate demand
What is the formula for gdp,
What is aggregate demand,
What are the components of aggreg...
8
cards
Lesson 13 - Aggregate demand
What are the components of aggreg...,
The aggregate demand diagram is a...,
Define the term price level
11
cards
14 Consumption and savings
What is the uk s biggest componen...,
Give 3 of the 5 factors which aff...,
How does real disposable income a...
8
cards
Lesson 15 - Investment
Give two examples of an investment,
What is the definition of an inve...,
In market based economies most in...
9
cards
Lesson 16- Government Expenditure
Define fiscal policy,
List the top 5 areas of governmen...,
List the top 5 areas of taxation
8
cards
Lesson 17 - Net Trade
If a country runs a trade surplus...,
If a country is running a trade d...,
What is the impact of increased t...
15
cards
Lesson 18 - Aggregate supply
What is the definition of aggrega...
1
cards
Lesson 19 - Long run aggregate supply
What does the short run aggregate...,
Although capital is fixed what ar...,
What can be increased in the long...
12
cards
2.4.1 National income-Circular flow of income
How do households receive factor ...,
What is consumer spending,
How are revenues and profits created
13
cards
Lesson 20 - Income and wealth
Give the definition of income,
Give the four examples of income,
Define original income
7
cards
Lesson 21 - Equilibrium AD and AS
When does macroeconomic equilibri...,
What are the three types of equil...,
Define the term output gap
7
cards
Lesson 22 - The multiplier
Define the term multiplier,
Why does the multiplier effect occur,
The size of the multiplier effect...
3
cards
Lesson 23 - economic growth
Define economic growth,
How can economic growth be demons...
2
cards
Lesson 24 - Trade Cycle and Economic Growth
What are the four stages of the e...,
When does an economic boom occur,
What are the consequences of a boom
15
cards
Lesson 26 - Key Fiscal terms
Define the term balanced budget,
Define the term budget deficit,
Define the term budget surplus
8
cards
Lesson 26 - Fiscal policy and demand management
What is a discretionary fiscal po...,
What is an automatic fiscal policy,
Some economists argue that the go...
11
cards
Lesson 27- Supply side policies
What are the key supply side prob...,
Although supply side reforms can ...,
What are the two different approa...
16
cards
Lesson 28 - Policy conflicts
Conflicts frequently appear betwe...,
List three conflicting macroecono...,
What is the name of the curve tha...
10
cards
Lesson 29 - Globalisation
1
cards
Lesson 30 - Specialisation and Trade
Define the term trade,
What are the two ways in which tr...,
Define static gains from trade
11
cards
Lesson 31-Global Markets
What are static gains from trade,
What are dynamic gains from trade,
How does international trade impa...
6
cards
Lesson 32-Patterns of trade
What is intra regional trade,
Who do countries tend to trade wi...,
Give the definition of comparativ...
8
cards
Lesson 33 - Terms of Trade
How are the terms of trade measured,
What is the equation for terms of...,
Identify three reasons why the pr...
5
cards
Lesson 34 - World Trade Organisations
Give three examples of an externa...,
Give two advantages of world trad...,
Give two disadvantages of world t...
15
cards
Lesson 35 - Trading blocs
Define the term trading bloc,
Give five examples of trading blocs,
What is trade creation
3
cards
Lesson 36 - Protectionism
Give three examples of protection...,
Define the term tariff,
Why do governments chose to impor...
7
cards
Lesson 37 - Balance of Payments
Define the term balance of payment,
What are the two aspects of the b...,
What does the current account con...
9
cards
Lesson 38-Exchange rates
Name the 3 exchange rate systems,
Define the term exchange rate,
Where is the value of a countries...
5
cards
Lesson 39 - Exchange Rate and the impact upon Balance of Payments
Define the term currency apprecia...,
Give two ways in which the moneta...,
Give one positive of increasing t...
10
cards
Lesson 40 - International competitiveness
Give six factors which influence ...,
Define the term international com...,
What is price competition
13
cards
Lesson 41 - Absolute and relative poverty
Define the term absolute poverty,
Define the term relative poverty,
What is the official uk relative ...
4
cards
Lesson 42-Inequality
What does income consist of,
What does wealth consist of,
Why are inequality of wealth and ...
19
cards
Lesson 43- Measures of development
Give the three objectives of deve...,
Give two objectives of economic g...,
Give two objectives of economic d...
9
cards
Lesson 44-Factors influencing growth and development
What is primary product dependancy,
What dangers occur with over spec...,
What effect can high commodity pr...
21
cards
Lesson 45-Strategies influencing growth and development
Who and what do free market appro...,
Give three examples of market led...,
What does trade liberalisation in...
28
cards
Lesson 46- Role of the financial markets
Give two key roles of financial m...,
Give a key function of money,
What does debt financing mean
6
cards
Lesson 47-Market Failure in the Financial Sector
When does market failure occur an...,
How can market failure occur with...,
When does a moral hazard exist
6
cards
Lesson 48- Role of Central Banks
What are two of the main function...,
What is the main aim of the bank ...,
What is expansionary monetary policy
17
cards
Lesson 49-Public expenditure
Give two examples of current spen...,
Give two examples of capital spen...,
What is the significance of gover...
9
cards
Lesson 50-Taxation
What are direct taxes,
What do direct taxes include,
What are indirect taxes usually t...
8
cards
Lesson 51-Public sector finances
What are discretionary fiscal cha...,
What are automatic stabilisers,
When a govt borrows what does it ...
13
cards
Lesson 52-Macroeconomic policies in a global context
What is the term fiscal austerity...,
Give three policies which could b...,
Give two arguments in favour of f...
10
cards
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