Individuals, Firms, Markets & Market Failure
12 hours109 questionsEconomic Methodology & the Economic Problem
Economic Methodology, Economic Activity, Economic Resources, Scarcity, Choice & the Allocation of Resources, Production Possibility Diagrams
Individual Economic Decision Making
Consumer Behaviour, Imperfect Information, Behavioural Economics, Using Behavioural Economics
Price Determination in Competitive Markets
Demand Curves, Demand Curves: Real World Analysis, Supply Curves, Supply Curves: Real World Analysis, The Determination of Market Equilibrium, Analysing Changes to Market Equilibrium, Price Elasticity of Demand (PED), Income & Cross Elasticities of Demand, Price Elasticity of Supply (PES), Interrelationships Between Markets
Production, Costs & Revenue
Production & Productivity, Specialisation & Division of Labour, Diminishing Returns & Returns to Scale, Costs of Production, Explaining the Shapes of the Cost Curves, Economies & Diseconomies of Scale, Short-run & Long-run Relationships, Marginal, Average &Total Revenue, Profit, Technological Change
Perfect & Imperfectly Competitive Markets & Monopolies
Market Structures, The Objectives of Firms, Perfect Competition, Monopolistic Competition, Oligopoly, Oligopoly: Price & Non-Price Competition, Monopoly & Monopoly Power, Price Discrimination, Competition & Competitive Market Processes, Contestable & Non-contestable Markets, Market Structure, Efficiency & Resource Allocation, Consumer & Producer Surplus
The Labour Market
Factors Influencing the Demand for Labour, Factors Influencing the Supply of Labour, Determining Wage Rates: Competitive Labour Markets, Determining Wage Rates: Imperfectly Competitive Labour Markets, The Influence of Trade Unions on Wages & Employment, The National Minimum Wage (NMW), Discrimination in the Labour Market
Income & Wealth Distribution
Income & Wealth Distribution, The Lorenz Curve & Gini Coefficient, The Problem of Poverty, Government Policies to Reduce Poverty & Inequity
The Market Mechanism, Market Failure & Government Intervention
The Market (Price) Mechanism, An Introduction to Market Failure, Market Failure: Public, Private & Quasi Public Goods, Market Failure: Negative Externalities, Market Failure: Positive Externalities, Market Failure: Tragedy of the Commons, Market Failure: Merit & Demerit Goods, Market Failure: Market Imperfections, Government Intervention: An Introduction, Government Intervention: Indirect Taxation & Subsidies, Government Intervention: Price Controls, Government Intervention: Competition Policy, Government Intervention: Public Ownership Versus Privatisation, Government Intervention: Regulation & Deregulation, Government Intervention: Other Methods, Government Failure
The National & International Economy
15 hours119 questionsMeasuring Macroeconomic Performance
Government Macroeconomic Objectives, Macroeconomic Objectives: Conflicts & Changes, Macroeconomic Indicators, Using Index Numbers, Using National Income Data
How the Macroeconomy Works
The Circular Flow of Income, Injections & Withdrawals into the Circular Flow, Aggregate Demand (AD), Short-run Aggregate Supply (SRAS), Long-run Aggregate Supply (LRAS), Macroeconomic Equilibrium, The Determinants of Aggregate Demand, The Multiplier & Basic Accelerator Process, Determinants of Long-run Aggregate Supply
Economic Performance
Economic Growth, The Impact of Economic Growth, The Economic Cycle, Employment & Unemployment, Price Level: Inflation, Price Level: Deflation, Price Level: Global Influences, Conflicts Between the Macroeconomic Objectives
Financial Markets & Monetary Policy
Financial Markets, Financial Assets, Commercial & Investment Banks, Central Banks & Monetary Policy, Monetary Policy Transmission Mechanisms, Regulating the Financial System
Fiscal & Supply-side Policies
Fiscal Policy: An Introduction, Fiscal Policy: Types of Public Expenditure & Taxation, Fiscal Policy: Budget Balances & National Debt, An Introduction to Supply-side Policies, Types of Supply-side Policies
The International Economy
Globalisation, International Trade, The Benefits & Costs of Trade, Protectionist Policies: An Introduction, Protectionist Policies: Tariffs, Protectionist Policies: Quotas & Export Subsidies, Types of Economic Integration, The Balance of Payments, Correcting Balance of Payment Deficits & Surpluses, Floating Exchange Rate Systems, Fixed Exchange Rate Systems, Currency Unions, Economic Growth & Development, Factors that Affect Growth & Development, Policies to Promote Growth & Development