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EDEXCEL Economics B Paper 1

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

By: Harry Moss
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Decks in this class (11)

1.1 The Economic Problem
Define scarcity 1,
What is the result of humans havi...,
Define the economic problem 3
20  cards
1.2 Enterprise, Business and the Economy
Define creative destruction 1,
Define entrepreneur 2,
Define innovation 3
30  cards
1.3 Introducing the market
Define demand 1,
Name 5 factors that influence dem...,
How do substitutes influence dema...
44  cards
1.4 The Role of Banks in the Economy
Define the term bank 1,
Define financial intermediary 2,
How do banks enhance the economy 3
51  cards
1.5 Market Failure and Government Intervention
Define external cost 1,
Define private cost 2,
Define social cost 3
22  cards
1.6 Revenue, Costs, Profits and Cash
What s the formula for sales reve...,
What s the formula for total costs 2,
What s the formula for profit 3
36  cards
4.1 Competition and Market Power
What is the the spectrum of compe...,
Define market structure 2,
What is perfect competition 3
69  cards
4.2 Market Power and Market Failure
Draw the graph for a positive ext...,
Draw the graph for a negative ext...,
Define market failre 3
22  cards
4.3 Market Failure Across the Economy
Define public good 1,
Define non excludable 2,
Define merit good 3
20  cards
4.4 Macroeconomic Policy and impact on firms and individuals
What is the largest component of ...,
Define aggregate supply 2,
Give 4 things that increase long ...
62  cards
4.5 Risk in the Financial Sector
Define shock 1,
Define uncertainty 2,
Define risk 3
56  cards

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EDEXCEL Economics B Paper 1

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