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Decks in this class (13)
The Importance of market structure
What is a homogenous product 1,
What market structures have homog...,
What is product differentiation 3
11
cards
Economic activity
What is a need 1,
What is the purpose of economic a...,
What is one example of a need 3
10
cards
Factors of Production
What are the 4 factors of product...,
What are the economic resources 2,
What is interest 3
7
cards
Making Economic Choices
How do we make economic decisions...,
What is opportunity cost 2
2
cards
Markets + Allocation of resources
What is a market 1,
What is a factor market 2,
What is a product market 3
4
cards
Economic Sectors
What are the economic sectors 1,
What is the primary sector 2,
What is the secondary sector 3
4
cards
Specialisation + Division of Labour
What is specialisation 1,
What do you gain from specialisat...,
What is the division of labour 3
5
cards
Demand of goods/services
What does the acronym pasific sta...,
What is pasific for 2
2
cards
Supply of goods/services
What does the acronym pintswc sta...,
Why does pintswc exist 2
2
cards
Equilibrium Price
How does equilibrium price get de...,
Blank 2
2
cards
Market Failure
What is market failure 1,
What are all the examples of mark...,
What is a demerit good 3
20
cards
Economies Of Scale
What are the economies of scale 1,
What are all the economies of sca...,
What is the benefit of the risk b...
8
cards
Diseconomies Of Scale
What are diseconomies of scale 1,
What are all the diseconomies of ...,
What are the consequences of the ...
4
cards
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MicroEconomics
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