Economics
Price Elasticity of Demand (PED) – AS/A LEVELS/IB/IAL
8272
0
Microeconomics
AS/A2
Responsiveness of demand for a good due to a change in its price.
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Diseconomies of scale (AS/A LEVELS/IB/IAL)
2860
0
Diseconomies of scale occur when output increases long run average costs also increase.
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Economies of scale (AS/A LEVELS/IB/IAL)
10721
0
As output increases there is a fall in long run average costs.
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Predatory pricing (AS/A LEVELS/IB/IAL)
1693
0
This pricing strategy involves cutting prices below the average cost of production in the short run.
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Limit Pricing (AS/A LEVELS/IB/IAL)
1616
0
Theme 3
This pricing strategy is used by firms to discourage new entrants.
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Macro-economic Objectives (AS/A LEVELS/IB/IAL)
2556
0
The government of the day has key objectives it tries to achieve when in power.
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Conflicts – Macro-economic objectives (AS/A LEVELS/IB/IAL)
3093
0
Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Conflicts – Macro-economic objectives Economic Growth & Inflation (1-3%) A rise in economic growth (GDP) could lead to a rise in demand pull inflation. This would only cause a problem if inflation increased above the government’s target […]
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Opportunity Cost (AS/A LEVELS/IB/IAL)
2167
0
Opportunity cost is to do with making choices.
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Positive Economics (AS/A LEVELS/IB/IAL)
2073
0
Positive economics is concerned with factual information.
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