📝Try our latest online quiz!🥳

Economic Glossary
Study Videos (YouTube)

Featured Courses

CAIE A2 Economics – Topic Questions
Intermediate

CAIE A2 Economics – Topic Questions

CAIE Alevel Economics (A2) Study Notes
Expert

CAIE Alevel Economics (A2) Study Notes

CAIE AS Economics – Topic Questions
Intermediate

CAIE AS Economics – Topic Questions

Explore More

Syllabus / Specification / Overview

Basic Economic Ideas

basic economic ideas (30) opportunity cost (8) public goods (7) classification of goods and services (7) factors of production (7) PPC (6) short run (6) economic systems (5) production possibility curve (5) scarcity (4) planned economy vs market economy vs mixed economy (4) specialization (3) mixed economy (3) planned economy (3) division of labour (3) long run (3) merit goods (3) short run vs long run vs very long run (3) positive statement (3) normative statement (3) ceteris paribus (3) demerit goods (3)

Price System and Microeconomy

consumer theory (16) demand curve (9) supply curve (6) derived demand (5) substitution effect (5) income effect (5) PED (4) consumer equilibrium (4) rationing (4) elasticities in economics (4) PES (3) inferior goods (3) price elasticity of supply (3) equi-marginal principle (3) XED (3) joint supply (3) market equilibrium (3) functions of price (3) YED (3) price elasticity of demand (3)

Consumer Theory

indifference curves (8) utility (6) total utility (4) marginal utility (4) diminishing marginal utility (3) indifference curve (3)

Firm Theory

firm theory (85) market structures (41) imperfect competition (18) price discrimination (14) production (14) pricing (13) profit (12) vertical integration (10) horizontal integration (10) costs (10) monopoly (8) economies of scale (8) oligopoly (7) profit maximisation (7) fixed costs (5) perfect competition (5) firm objectives (5) barriers to entry (4) average revenue (4) costs of production (4) market power (4) total product (4) total revenue (4) variable costs (4) total cost (4) managerial theory (4) market structure (4) marginal revenue (4) marginal product (4) marginal cost (3) normal profit (3) productivity (3) collusion (3) unit costs (3) AVC (3) average product (3) average cost (3)

Market Structures

market structures (41) imperfect competition (18) price discrimination (14) monopoly (8) oligopoly (7) perfect competition (5) barriers to entry (4) market power (4) cartel (4) market structure (4) collusion (3)

Labour Market, Wage Determination

labour market (26) wage (21) labour supply (5) productivity (3) labour demand (3)

Economic Efficiency, Market Failure

market failure (42) efficiency (12) welfare (11) externalities (11) public goods (7) productive efficiency (6) allocative efficiency (5) Pareto optimality (4) economic efficiency (4) asymmetric information (3) merit goods (3) demerit goods (3)

Micro Intervention

market failure (42) micro intervention (36) equity (16) taxation (15) externalities (11) regulation (8) income redistribution (6) gini coefficient (5) inequality (5) government failure (5) progressive tax system (4) income tax (4) transfer payments (4) minimum wage (4) microeconomic government intervention (4) price floor (4) subsidy (3) direct tax vs indirect tax (3) direct tax (3) asymmetric information (3) indirect tax (3) poverty (3) minimum price (3) price controls (3)

Macroeconomy

aggregate demand (40) economic growth (35) national income (32) inflation (30) unemployment (27) money market (25) banking (17) consumption (16) AD-AS analysis (15) aggregate supply (12) money (10) GDP (10) savings (10) investment (8) equilibrium level of national income (8) real GDP (6) national income statistics (5) causes of unemployment (5) types of unemployment (5) circular flow of income (5) commercial banks (5) output gap (4) structural unemployment (4) natural rate of unemployment (4) purchasing power (4) leakages (4) open economy multiplier (4) causes of inflation (4) frictional unemployment (4) injections vs leakages (4) demand-pull inflation (3) liquidity preference theory (3) full employment (3) mobility (3) multiplier (3) potential growth (3) actual growth (3) NNI (3) cost-push inflation (3) deflation (3) injections (3) cyclical unemployment (3) central bank (3) GNI (3)

Macro Intervention

fiscal policy (26) money supply (23) monetary policy (23) macro policy (15) interest rate (13) macro intervention (13) supply-side policy (8) macro objectives (7) government budget (5) government failure (5) macroeconomic relationships (5) policy (4) macroeconomic objectives (4) macro government intervention (4) government spending (3) budget deficit (3) quantitative easing (3) budget surplus (3)

International Trade

international trade (73) balance of payments (32) exchange rate (27) economic integration (10) trade barriers (7) protectionism (7) imports (7) foreign exchange market (6) regional integration (6) free trade area (6) exports (6) currency appreciation (5) foreign exchange reserves (5) currency depreciation (5) customs union (4) free international trade (4) trade diversion (4) trade in services (4) trade creation (4) trade in goods (4) terms of trade (4) exchange rates (4) globalisation (4) trade balance (3) balance of trade (3) fixed exchange rate (3) depreciation (3) Marshall-Lerner condition (3) purchasing power parity (3) currency demand (3) currency supply (3)

Economic Development

economic development (26) development indicators (14) development (8) population growth (5) economic structure (4) FDI (4) MNC (4) economic indicators (4) international aid (4) demographic transition (3) sustainability (3) purchasing power parity (3) external debt (3)