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Dany Malik
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Decks in this class (22)
1.1.1: Economics As A Social Science
What are the aims of economics,
What,
What is ceteris paribus
5
cards
1.1.2: Positive & Normative Statements
What is a positive statement,
What is a normative statement,
What are some key words for norma...
4
cards
1.1.3: The Economic Problem
What are non renewable resources,
What are renewable resources,
What is opportunity cost
17
cards
1.1.4: Production Possibility Frontiers
What are ppfs,
What is the maximum potential in ...,
How does opportunity cost link wi...
16
cards
1.1.5: Specialisation And The Division Of Labour
What is specialisation,
What is the division of labour,
What did adam smith believe in
14
cards
1.1.6: Types Of Economies
What is a free market economy,
What are the features of a free m...,
What are market mechanisms
14
cards
1.2.1: Rational Decision Making
What is economic welfare,
What is utility,
What is homo economicus
14
cards
1.2.2: Demand
What is demand,
What causes a movement alone the ...,
What is the relationship between ...
14
cards
1.2.3: Price, Income & Cross Elasticities Of Demand
What is the shorthand of price el...,
What is the shorthand of income e...,
What is the shorthand of cross el...
33
cards
1.2.4: Supply
What is supply,
What causes a movement along the ...,
What is the relationship between ...
7
cards
1.2.5: Elasticities Of Supply
What is the shorthand of price el...,
What are price elasticities of su...,
What is the formulae of price ela...
12
cards
1.2.6: Price Determination
What is equilibrium price also kn...,
What is equilibrium price,
In what situation would the equil...
9
cards
1.2.7: Price Mechanism
In a ________ ________ ________ t...,
What is price mechanism,
What are the three functions of t...
9
cards
1.2.8: Consumer And Producer Surplus
What is consumer surplus,
What is producer surplus,
Consumer surplus producer surplus
10
cards
1.2.9: Indirect Taxes & Subsidies
What is indirect tax,
What is ad valorem tax,
What is specific unit tax
19
cards
1.2.10: Alternate Views Of Consumer Behaviour
We assume that consumers act ____...,
What are three ways that make con...,
What is computation
6
cards
1.3.1: Types Of Market Failure
What is market failure,
What are the three types of marke...,
What is partial market failure
4
cards
1.3.2: Externalities
What is an externality,
What is a private cost benefit,
What is a social cost benefit
13
cards
1.3.3: Public Goods
What are public goods,
What is non rivalry,
What is non excludability
11
cards
1.3.4: Information Gaps
What is symmetric information,
What is symmetric information als...,
What is asymmetric information
12
cards
1.4.1: Government Intervention In Markets
What are the three methods graphi...,
How does the government intervene...,
How does the government intervene...
28
cards
1.4.2: Government Failure
What is government failure,
What are four types of government...,
What is distortion of price signals
10
cards
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edexcel a level economics theme 1: inroduction to markets & market failure
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