This class was created by Brainscape user Lewis Tilley. Visit their profile to learn more about the creator.
By:
Lewis Tilley
- decks
- flashcards
- learners
Decks in this class (25)
Production
What is production 1,
What are inputs 2,
What are outputs 3
9
cards
Short Run Costs
What are fixed costs 1,
What are variable costs 2,
What is the short run 3
9
cards
Long Run Costs
What is the economies of scale 1,
What are internal economies of sc...,
Examples of internal eos 3
6
cards
Revenue & Profit
What is the total revenue 1,
What is the average revenue 2,
What is marginal revenue 3
8
cards
Technological Change
What is invention 1,
What is innovation 2,
What is automation 3
7
cards
Objectives Of Firms
What is profit maximisation 1,
What is revenue maximisation 2,
What is sales growth maximisation 3
7
cards
Efficiency
What is efficiency 1,
When does allocative efficiency o...,
What is x inefficiency 3
9
cards
Perfect Competition
Characteristics of perfect compet...,
Perfect competition efficiency 2,
A firm will shut down if its reve...
3
cards
Monopoly
Characteristics of monopolies 1,
Can monopolist markets earn snp i...,
If a supplier has __ they can wie...
7
cards
Monopolistic
Characteristics of a monopolistic...,
Monopolistic competition and effi...
2
cards
Oligopoly
Characteristics of an oligopoly 1,
What is the concentration ratio 2,
What is a price war 3
18
cards
Price Discrimination
What is price discrimination 1,
What are the main aims of price d...,
What is first degree price discri...
8
cards
Costs & Revenue: Profit
Fall in fixed costs ac shifts ____ 1,
Fall in variable costs ac and mc ...,
Decrease in revenue ar and mr shi...
3
cards
Features Of Market Structures
Is a competitive market more like...,
Is an uncompetitive market likely...,
What are barriers to entry 3
16
cards
Contestability
What is a contestable market 1,
Barriers to ___ costs associated ...,
What are sunk costs 3
7
cards
Labour Markets
What is marginal revenue product ...,
What is the formula for marginal ...,
Limitations of mrpl 3
16
cards
Wage Determination In Monopsony Labour Markets
What is a monopsony 1,
How can monopsony lead to labour ...,
Profit maximising employment leve...
3
cards
National Minimum Wage
Benefits of nmw 1,
Costs of nmw 2
2
cards
Wage Differentiation
What is wage differential 1,
What does compensating wage diffe...,
What does reward for human capita...
12
cards
Trade Union
What is the trade union 1,
What do trade unions aim to do 2,
Factors making it easier for a tr...
15
cards
Distribution Of Income And Wealth
What is wealth 1,
What is income 2,
What is income inequality 3
10
cards
Poverty
What is absolute poverty 1,
What is relative poverty 2,
Causes of poverty 3
6
cards
Competition Policy & Regulation
What are the aims of competition ...,
Advantages of price regulation 2,
Disadvantages of price regulation 3
6
cards
Regulatory Failure
Blank 1,
Why may regulations fail 2,
What is nationalisation 3
5
cards
Privatisation
What is privatisation 1,
Advantages of privatisation 2,
Disadvantages of privatisation 3
7
cards
More about
Microeconomics Year 13
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Lewis Tilley's Microeconomics Year 13 flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Year 13 Biology
- 69 decks
- 2445 flashcards
- 15 learners
Decks:
11 Introduction To Biological Molecules, Transport Across Cell Membranes, Homeostasis Blood Glucose, And more!
Microeconomics
- 19 decks
- 666 flashcards
- 1005 learners
Decks:
Economic Methodology Scarcity Choice And, Producer Surplus, Intro To Supply And Demand, And more!
Year Two
- 27 decks
- 1947 flashcards
- 14 learners
Decks:
Body Fluids, Epithelial Tissue, Glandular Epithelial, And more!
