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AQA A-Level Economics

A-Level · AQAEconomics1917 cards

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Flashcards for AQA A-level Economics (7136), split into the two content areas and then by the specification's numbered topics, with sub-topics where a topic is large. Definitions, formulae with worked examples, diagrams described in words, models, policies and evaluation points. Delete or suspend any subdeck you do not need once the deck is yours.

Adding it gives you your own copy, with every subdeck below. Each card then comes back just before you would forget it, and every one you get right or wrong counts towards your mastery of its topic. You can delete or suspend the parts you are not studying once it is yours.

What is inside (90 subdecks)

  • 4.1 Individuals, firms, markets and market failure1111 cards
    • 4.1.1 Economic methodology and the economic problem74 cards
    • 4.1.2 Individual economic decision making78 cards
      • 4.1.2.1 Consumer behaviour23 cards
      • 4.1.2.2 Imperfect information9 cards
      • 4.1.2.3 Aspects of behavioural economic theory27 cards
      • 4.1.2.4 Behavioural economics and economic policy19 cards
    • 4.1.3 Price determination in a competitive market169 cards
      • 4.1.3.1 The determinants of demand23 cards
      • 4.1.3.2 Price, income and cross elasticities of demand68 cards
      • 4.1.3.3 The determinants of supply20 cards
      • 4.1.3.4 Price elasticity of supply17 cards
      • 4.1.3.5 The determination of equilibrium prices25 cards
      • 4.1.3.6 The interrelationship between markets16 cards
    • 4.1.4 Production, costs and revenue181 cards
      • 4.1.4.1 Production and productivity10 cards
      • 4.1.4.2 Specialisation, division of labour and exchange13 cards
      • 4.1.4.3 The law of diminishing returns and returns to scale34 cards
      • 4.1.4.4 Costs of production42 cards
      • 4.1.4.5 Economies and diseconomies of scale30 cards
      • 4.1.4.6 Marginal, average and total revenue22 cards
      • 4.1.4.7 Profit16 cards
      • 4.1.4.8 Technological change14 cards
    • 4.1.5 Perfect competition, imperfectly competitive markets and monopoly231 cards
      • 4.1.5.1 Market structures13 cards
      • 4.1.5.2 The objectives of firms25 cards
      • 4.1.5.3 Perfect competition27 cards
      • 4.1.5.4 Monopolistic competition16 cards
      • 4.1.5.5 Oligopoly53 cards
      • 4.1.5.6 Monopoly and monopoly power23 cards
      • 4.1.5.7 Price discrimination20 cards
      • 4.1.5.8 The dynamics of competition and competitive market processes7 cards
      • 4.1.5.9 Contestable and non-contestable markets14 cards
      • 4.1.5.10 Market structure, static efficiency, dynamic efficiency and resource allocation18 cards
      • 4.1.5.11 Consumer and producer surplus15 cards
    • 4.1.6 The labour market96 cards
      • 4.1.6.1 The demand for labour, marginal productivity theory21 cards
      • 4.1.6.2 Influences upon the supply of labour to different markets14 cards
      • 4.1.6.3 Wage determination in perfectly competitive labour markets14 cards
      • 4.1.6.4 Imperfectly competitive labour markets12 cards
      • 4.1.6.5 The influence of trade unions12 cards
      • 4.1.6.6 The National Minimum Wage11 cards
      • 4.1.6.7 Discrimination in the labour market12 cards
    • 4.1.7 The distribution of income and wealth: poverty and inequality68 cards
      • 4.1.7.1 The distribution of income and wealth34 cards
      • 4.1.7.2 The problem of poverty15 cards
      • 4.1.7.3 Government policies to alleviate poverty and influence distribution19 cards
    • 4.1.8 The market mechanism, market failure and government intervention214 cards
      • 4.1.8.1 How markets and prices allocate resources13 cards
      • 4.1.8.2 The meaning of market failure9 cards
      • 4.1.8.3 Public goods, private goods and quasi-public goods29 cards
      • 4.1.8.4 Externalities35 cards
      • 4.1.8.5 Merit and demerit goods16 cards
      • 4.1.8.6 Market imperfections12 cards
      • 4.1.8.7 Competition policy14 cards
      • 4.1.8.8 Public ownership, privatisation, regulation and deregulation27 cards
      • 4.1.8.9 Government intervention in markets47 cards
      • 4.1.8.10 Government failure12 cards
  • 4.2 The national and international economy806 cards
    • 4.2.1 The measurement of macroeconomic performance71 cards
      • 4.2.1.1 The objectives of government economic policy14 cards
      • 4.2.1.2 Macroeconomic indicators23 cards
      • 4.2.1.3 Uses of index numbers19 cards
      • 4.2.1.4 Uses of national income data15 cards
    • 4.2.2 How the macroeconomy works: the circular flow, AD/AS analysis and related concepts132 cards
      • 4.2.2.1 The circular flow of income26 cards
      • 4.2.2.2 Aggregate demand and aggregate supply analysis26 cards
      • 4.2.2.3 The determinants of aggregate demand30 cards
      • 4.2.2.4 Aggregate demand and the level of economic activity24 cards
      • 4.2.2.5 Determinants of short-run aggregate supply8 cards
      • 4.2.2.6 Determinants of long-run aggregate supply18 cards
    • 4.2.3 Economic performance150 cards
      • 4.2.3.1 Economic growth and the economic cycle44 cards
      • 4.2.3.2 Employment and unemployment36 cards
      • 4.2.3.3 Inflation and deflation46 cards
      • 4.2.3.4 Possible conflicts between macroeconomic policy objectives24 cards
    • 4.2.4 Financial markets and monetary policy136 cards
      • 4.2.4.1 The structure of financial markets and financial assets46 cards
      • 4.2.4.2 Commercial banks and investment banks27 cards
      • 4.2.4.3 Central banks and monetary policy41 cards
      • 4.2.4.4 The regulation of the financial system22 cards
    • 4.2.5 Fiscal policy and supply-side policies111 cards
      • 4.2.5.1 Fiscal policy85 cards
      • 4.2.5.2 Supply-side policies26 cards
    • 4.2.6 The international economy206 cards
      • 4.2.6.1 Globalisation18 cards
      • 4.2.6.2 Trade69 cards
      • 4.2.6.3 The balance of payments44 cards
      • 4.2.6.4 Exchange rate systems41 cards
      • 4.2.6.5 Economic growth and development34 cards

Some of its cards

  • Market failure
    A situation where the market leads to a misallocation of resources
  • A firm employs labour up to the point where the marginal revenue product equals the [...].
    A firm employs labour up to the point where the marginal revenue product equals the wage.
  • In perfect competition, firms are price [...].
    In perfect competition, firms are price takers.
  • A bank that takes deposits and makes loans to households and firms
    Commercial bank
  • A maximum price set below the equilibrium price causes a [...].
    A maximum price set below the equilibrium price causes a shortage.
  • The difference between the price consumers are willing to pay and the price they actually pay
    Consumer surplus
  • Fiscal policy
    The use of government spending, taxation and the budget balance to influence the economy
  • Profit equals total revenue minus [...].
    Profit equals total revenue minus total cost.
  • Economies of scale cause long-run average cost to [...] as output rises.
    Economies of scale cause long-run average cost to fall as output rises.
  • A [...] output gap exists when actual GDP is above potential GDP.
    A positive output gap exists when actual GDP is above potential GDP.

And 1907 more once you add the deck.