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Decks in this class (21)
MAC - Balance of payments
What does the balance of payments...,
What three things make up the bal...,
Examples of what is measured in t...
31
cards
MAC - Inflation and deflation
What are the four components of a...,
What does aggregate demand measure 2,
How does aggregate demand link to...
98
cards
MAC - Circular flow of income
Real gdp def 1,
Nominal gdp def 2,
Difference between income and wea...
55
cards
MAC - Tiger
What is tiger an acronym for 1,
What does each letter in tiger me...,
What is demand pull inflation 3
57
cards
MAC - Economic growth and unemployment
Define economic growth 1,
When does economic growth occur 2,
Define sustainable economic growth 3
50
cards
MAC - Aggregate Supply
What is aggregate supply 1,
What is the shape of the sras cur...,
Why is sras upward sloping 3
40
cards
MAC - Aggregate Demand
What are the four components of a...,
What does aggregate demand mean 2,
Formula for ad 3
28
cards
MAC - FUNDEMENTALS
Core belief of classical economics 1,
What do classical economists beli...,
Unemployment only occurs above eq...
23
cards
MAC - EXAM QUESTIONS
Explain the main problems for an ...,
Explain how expenditure switching...,
Explain reasons for changes in th...
3
cards
MIC - Behavioural economics
What are heuristics 1,
What is loss aversion 2,
What are the assumptions using ra...
7
cards
MIC - The operation of markets and market failure
What does pimmfaced show 1,
What does each letter represent i...,
What are some of the main ways go...
17
cards
MIC - 0. Individual economic decision making - XED,YED,PED,PES
Blank 1
1
cards
MIC - 1. Economic methodology
What is the basic economic problem 1,
Define scarcity 2,
What are factors of production 3
22
cards
MIC - 2. Individual economic decision making
What is the key assumption of tra...,
Define rational decision making 2,
What is homo economicus 3
44
cards
MIC - 3. Price determination in a competitive market
What is a competitive market 1,
How is price determined in a comp...,
What is demand 3
30
cards
MIC - 4. Specialisation, production costs, revenue and profit
What is specialisation 1,
What is division of labour 2,
Two advantages of specialisation 3
47
cards
MIC - 8. Perfect competition, Imperfect competitive markets and Monopolies
What is a market structure 1,
Four main market structure types 2,
What are the main characteristics...
57
cards
MIC - 9. Labour market
What determines wage rates in a l...,
When are wages likely to be high 2,
What determines demand for labour 3
36
cards
MIC - 10. Distribution of income
What is income 1,
What is wealth 2,
Difference between income and wea...
36
cards
MIC - 11. Market mechanisms
What is the market mechanism 1,
What is equilibrium price 2,
What is excess demand 3
70
cards
COMPLEX DEFINITIONS
X inefficiency 1,
Trade diversion 2,
Marshall lerner condition 3
18
cards
More about
THEOS ECON
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