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Economics theme 3

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

By: Georgia Read
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Decks in this class (13)

3.1.1
What is a non profit organisation 1,
What is a firm 1,
What is a public sector organisat...
32  cards
3.1.2
What is organic growth 1,
What are the ways that organic gr...,
What is inorganic growth 3
27  cards
3.2.1
What are the key business objecti...,
When does profit maximisation occ...,
What does the change in revenue f...
9  cards
3.3.1
What is revenue 1,
What is average revenue ar 2,
What is marginal revenue mr 3
4  cards
3.3.2
What are examples of fixed costs 1,
What are examples of variable cos...,
What are economic costs 3
8  cards
3.3.3
In the long run all factors of pr...,
What is returns to scale 2,
In the long run businesses look f...
34  cards
3.3.4
What is normal profit 1,
What do normal profits reflect 2,
When firms are making supernormal...
12  cards
3.4.1
When does dynamic efficiency occur 1,
What is product innovation 2,
What is process innovation 3
11  cards
3.4.2
What is perfect competition 1,
What are assumptions of a perfect...,
Where do price takers operate 3
5  cards
3.4.3
What is monopolistic competition 1,
What does product differentiation...,
What are the key assumptions of m...
3  cards
3.5.3
What are the main causes of diffe...,
What is compensating wage differe...,
What is different skill set for a...
21  cards
3.4.4
What is an oligopoly 1,
When does an oligopoly exist 2,
What are the key features of olig...
40  cards
3.4.5
What is a pure monopolist 1,
The cma deems a working monopoly ...,
What does the cma deem as a domin...
7  cards

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Economics theme 3

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