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Groups of Things - A Level Economics (AQA)

Do you know all these aspects of AQA A-Level Economics?
Quiz by Lewizee
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Last updated: February 7, 2024
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First submittedFebruary 7, 2024
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Market Structures
Monopoly
Monopolistic Competition
Monopsony
Duopoly
Oligopoly
Perfect Competition
 
 
 
 
 
 
Two main Schools of Thought
Classical
Keynesian
 
 
 
Components of Market Equilibrium Diagram
D
Demand Curve
S
Supply Curve
Y-Axis
Price
X-Axis
Quantity
pe
Equilibrium Price
qe
Equilibrium Quantity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Types of Demand (Curve)
X>1
Elastic
X<1
Inelastic
So Hot Bro
Kinky
 
 
Types of 'Goods'
Available to all
Public
Available from a seller
Private
Goods used by people
Consumer
Goods used for making goods
Capital
Goods with Positive externalities
Merit
Goods with Negative externalities
Demerit
A good with a life expectancy of at least 3 years
Durable
A good that's single use of used over a short period of time
Non-Durable
Like Hot dog buns to Hot Dogs
Complimentary
Petrol to a car
Supplimentary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Components of the AD Formula
C
Consumption
I
Investment
G
Government Spending
(X-M)
Net Exports
 
 
Famous Adam Smith Concepts
Benefits of Specialisation and Division of Labour
Pin Factory
For showing how scarcity affects price
Water Diamond Paradox
 
Elasticities of Supply
PES
YES
XES
 
 
What letter is used to present income in Macroeconomics?
Y
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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