Economics Question bank

The economic problem

The allocation of resources

Opportunity cost

Specialisation and trade

Demand

Supply

Consumer and producer surplus

The interaction of markets

Elasticity

The concept of the margin

Market failure and externalities

Information failure

Public goods

Government intervention

Business objectives

Costs and economies of scale

Revenue and profit

Perfect competition

Monopoly

Monopolistic competition

Oligopoly

Contestable markets

Demand for labour

Supply of labour

The interaction of labour markets

Circular flow of income

Aggregate demand

Aggregate supply

The interaction of aggregate demand and supply

The multiplier and the accelerator

Economic growth

Development

Employment

Inflation

Balance of payments

Trends in macroeconomic indicators

Income distribution and welfare

The Phillips Curve

Fiscal policy

Monetary policy

Supply side policy

Policy conflicts

International trade

Exchange rates

Globalisation

Trade policies and negotiations

Money and interest rates

The financial sector

Financial regulation