economics ocr alevel

This class was created by Brainscape user Toby Beckett. Visit their profile to learn more about the creator.

Decks in this class (37)

Chapter 1
What are economic goods,
What are free goods,
Positive statements
23  cards
Chapter 2
What is a market economy,
Centrally planned economy,
Mixed economy
23  cards
Chapter 3
What is ceteris paribus,
What is joint demand,
What is composite demand
14  cards
Chapter 4
Competitive market,
What is the supply curve,
What shifts the supply curve
10  cards
Chapter 5
What is market equilibrium,
What is excess supply,
What is excess demand
7  cards
Chapter 6
What does the term elastic mean,
What does the term inelastic mean,
What does ped stand for
40  cards
Chapter 7
What is margin,
Total utility,
Marginal utility
11  cards
Chapter 8
What is market failure,
What is the ideal outcome for the...,
What is information failure
29  cards
Chapter 9
What are public goods,
What is asymmetric information,
What are private goods
15  cards
Chapter 10
What is government intervention i...,
Government faliure,
Subsides
32  cards
Chapter 11
1  cards
Chapter 14
What is a monopoly,
What is a pure monopoly,
Where does a monopoly maximise pr...
10  cards
Chapter 15
What are the characteristics of a...,
What is non price competition,
What is interdependence in an oli...
11  cards
Chapter 19
Leakages,
Injections,
Injections government
34  cards
Chapter 20
What is short run aggregate supply,
Factors that shift shoprt,
What are neoclassical economists
10  cards
Chapter 21
What is the multiplier,
In order to calculate the multipl...,
What is a propensity
20  cards
Chapter 22
What is economic growth,
What is the uk government s macro...,
What is short run economic growth
26  cards
Chapter 23
What is the primary sector,
What is the secondary sector,
What is the tertiary sector
18  cards
Chapter 24
What does the term employment mean,
What does the term unemployed mean,
What does the term economically i...
19  cards
Chapter 25
Inflation,
Deflation,
Disinflation
18  cards
Chapter 26
What is a part of the current acc...,
What is ap,
What is part of the capital account
17  cards
Chapter 27
What is exchange rate,
What is a fixed exchange rate system,
When does demand for the pound arise
17  cards
Chapter 29
What is income,
What is wealth,
Is the distribution of wealth and...
27  cards
Chapter 30
What is,
What is a direct tax,
What is an indirect tax
26  cards
Chapter 31
What is monetary policy,
What is money supply,
What 4 functions does money perform
21  cards
Chapter 32
What are supply side policies,
What are market based supply side...,
What are interventionist supply s...
19  cards
The Theory of the Firm
Define normal profit,
Define abnormal profit,
What is the point of productive e...
88  cards
Financial Markets
What are the 6 characteristics of...,
What is the way of remembering th...,
What are the 4 key functions of m...
76  cards
Wealth and Income Inequality
Give 4 different types of policie...,
Explain how lowering taxes could ...,
Analyse how doing nothing could a...
28  cards
Production, Costs and Revenues
How to calculate average costs,
Fixed costs definition,
How is short run defined
19  cards
International Economy and Trade
Define comparative advantage,
Define absolute advantage,
What is meant by free trade
86  cards
National and International Economy
What are the three injections,
What are the three withdrawals,
Define marginal propensity to con...
50  cards
Behavioural Economics and Government Policy
Define bounded rationality,
Define bounded self control,
Give an example of bounded self c...
20  cards
Market Failure and Tragedy of the Commons
What is a public good,
What is meant by a public good ex...,
What is meant by non rejectability
20  cards
The Labour Market
What type of demand is labour,
What is meant by labour being der...,
What is the marginal productivity...
62  cards
Fiscal and Supply-Side Policy
Define fiscal policy,
What is a budget deficit,
What is a budget surplus
43  cards
Economic Growth and Development
Define standard of living,
Define economic development,
Define economic growth
26  cards

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