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Decks in this class (24)
micro 2.1- demand
Define a market,
What are the two types of market ...,
Define demand
21
cards
micro 2.2- supply
Define supply,
Describe a supply graph,
State the law of supply
19
cards
micro 2.3- competitive market equilibrium
Define shortage,
Define surplus,
What is equilibrium price
18
cards
micro 2.5/ 2.6- elasticities of demand/supply
Define elasticity,
Describe the slope in the diagram...,
Describe the diagram for a highly...
51
cards
micro 2.7- government intervention
Give 7 reasons for government int...,
State 4 main forms of government ...,
Define a specific tax
36
cards
micro 2.8- market failure
Define market failure,
What is an externality and when d...,
Define a merit good
72
cards
macro 3.1- measuring economic activity and illustrating its variations
Draw the circular flow of income,
Define gdp,
Define gni
20
cards
macro 3.2- variations in economic activity- AD/AS
Define aggregate demand,
Define aggregate supply,
State the equation for ad
37
cards
macro 3.3- macroeconomic objectives
Define unemployment,
Define the economically active po...,
Give the equation for unemploymen...
99
cards
macro 3.4 - economics of inequality and poverty
Define equality,
Define equity,
Meaning of economic inequality
60
cards
macro 3.5- demand management —monetary policy
Define monetary policy,
Give and describe the two types o...,
What is the base rate discount ra...
13
cards
macro 3.6 - demand management - fiscal policy
What is fiscal policy,
Give the 3 categories of public s...,
Give 3 sources of government revenue
15
cards
macro 3.7 - supply side policies
Give the 5 main goals of supply s...,
Define supply side policies and t...,
Give 3 types of market based poli...
25
cards
global economy 4.1- benefits of international trade
State the 9 benefits of internati...,
Increased competition,
Increased competition
16
cards
global economy 4.2- types of trade protection
Define a tariff,
Draw a diagram for a tariff and d...,
Define a subsidy
12
cards
global economy 4.3- arguments for and against trade control/protectionism
State the 9 reasons for trade pro...,
1 protecting domestic employment,
2 protecting the economy from low...
12
cards
global economy 4.4 - Economic integration
Define economic integration,
Define a bilateral trade agreement,
Define a multilateral trade agree...
24
cards
global economy 4.5 - Exchange rates
Define an exchange rate,
What are the 3 types of exchange ...,
Define a fixed exchange rate system
27
cards
global economy 4.6 - Balance of payments
Define the balance of payments ac...,
3 main parts of the balance of of...,
Define the current account
12
cards
global economy 4.7 - Sustainable development
Define sustainable development,
How does economic growth threaten...,
The effects on humans will be fel...
13
cards
global economy 4.8 - Measuring development
Define economic development,
State the 5 single indicators of ...,
Gdp gni per person per capita at ppp
21
cards
global economy 4.9 - Barriers to economic growth and/or economic development
Define a poverty trap,
Draw a poverty cycle,
Give 10 economic barriers to grow...
21
cards
global economy 4.10 - Economic growth and/or economic development strategies
State three strategies that aim t...,
Explain import substitution,
Conditions needed for import subs...
91
cards
real 4.10
State three strategies that aim t...,
Explain import substitution,
Conditions needed for import subs...
42
cards
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