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Year 2 - Micro

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

By: Unknown Unknown
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Decks in this class (16)

3.1.1 Sizes and types of firms
Reasons firms stay small 1,
Reasons firms grow 2,
Divorce of ownership control 3
7  cards
3.1.2 Business Growth
Organic growth 1,
Organic growth advantages 2,
Organic growth disadvantages 3
14  cards
3.1.3 Demerges
Demerges 1,
Reasons for demerges 2,
Impacts of demerge on the firm 3
5  cards
3.2.1 Business Objectives
What are the 3 main business obje...,
Why do firms profit maximise 2,
Profit maximisation rule 3
13  cards
3.3.1 Revenue
Total revenue definition and form...,
Average revenue definition and fo...,
Marginal revenue definition and f...
4  cards
3.3.2 Costs
Fixed costs 1,
Variable costs 2,
Marginal cost 3
9  cards
3.3.3 Economies & Diseconomies of Scale
Economies of scale 1,
Diseconomies of scale 2,
Types of internal economies of sc...
13  cards
3.3.4 Normal Profits, Supernormal Profits & Losses
Explicit costs 1,
Implicit costs 2,
Rational resource allocation 3
9  cards
3.4.1 Efficiency
Allocative efficiency 1,
Productive efficiency point and d...,
Dynamic efficiency 3
4  cards
3.4.2 Perfect Competition
Perfect competition characteristi...
1  cards
3.4.3 Monopolistic Competition
Monopolistic competition characte...,
Monopolistic competition market p...,
Why do firms in monopolistic comp...
4  cards
3.4.4 Oligopoly
Oligopoly definition 1,
Oligopoly characteristics 2,
Concentration ratio 3
12  cards
3.4.5 Monopoly
Monopoly 1,
Monopoly characteristics 2,
Price discrimination 3
13  cards
3.4.6 Monopsony
Monopsony 1,
Monopsonistic characteristics 2,
Monopsony advantages to firms 3
4  cards
3.5.1 Demand for labour
Derived demand 1,
Factors that influence the demand...
2  cards
3.5.2 Supply of Labour
Factors influencing the supply of...,
Market failure in labour markets 2
2  cards

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Year 2 - Micro

  • Class purpose General learning

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