Econ1
- Created by: Yashee97
- Created on: 11-03-15 17:49
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- Economics ; Unit 1 .
- The Economic Problem
- The Nature and Purpose of Economic Activity
- Economic Resources
- The Economic Objectives of Individuals, Firms and Governments
- Scarcity, Choice and the Allocation of Resources
- Production Possibility Diagram
- Value Judgements, Positive and Normative Statements
- The All-ocation of Resources in Competitive Markets
- The Determinant of the Demand for Goods and Services
- Price, Income and Cross Elasticities of Demand
- The Determinant of the Supply of Goods and Services
- Price Elasticity of Supply
- The Determinatio of Equilibrium Market Prices
- Applications of Demand and Supply Analysis to Particular Markets
- The Inter-relationship Between Markets
- How Markets and Prices Allocate Resources
- Production and Efficiency
- Specialisa-tion, Division of Labour and Exchange
- Production
- Economies and Diseconomies of Scal
- Market Failure
- The Meaning of Market Failure
- Public Goods
- Positive and Negative Externalities in Consumption and Production
- Merit and Demerit Goods
- Monopoly and the Allocation of Resources
- Immobility of Factors of Production
- Inequalities in the Distribution of Income and Wealth
- Government Intervention in the Market
- The Impact of Government Intervention on Market Outcomes
- Government Failure
- Methods of Government Intervention to Correct Distortions in Individual Markets
- Rationale for Government Interventio
- The Economic Problem
- Government Intervention in the Market
- The Impact of Government Intervention on Market Outcomes
- Government Failure
- Methods of Government Intervention to Correct Distortions in Individual Markets
- Rationale for Government Interventio
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