- Economics for Business and Strategy - Revision Notes
- 68 Exam Style Questions and Illustrative & Exemplar Answers
-172 pages - Ideal for students
- Ideal for teachers and private tutors
- Ideal for university
- Economic graphs throughout
- Inputs, outputs and efficiency - constant returns production function, decreasing returns to labour, increasing returns to labour, production possibility frontier,
- Costs and vulnerability in the short run
- Exposure - the firm and its product markets - demand, supply and equilibrium, market demand curve, price elasticity of demand, own price elasticity, elasticity and inelasticity, determinants of price elasticity, price elasticity in practice, cross price elasticity of demand
- Competition, market power - supply curve, free markets and price controls, business in a perfectly competitive market, optimal output in perfect competition, profit maximising level of output, market supply curve, short run supply curve
- Macroeconomics - demand side shocks, GDP (real and nominal)
- Macroeconomic exposure - aggregate demand, circular flow of income, exogenous demand, endogenous demand, consumer and investment goods, consumption function, investment function, equilibrium GDP, the multiplier, savings function
- Open economy and aggregate demand - net exports, GDP, exports, imports, export and import functions, balance of trade
- Exchange rate - real, nominal, supply curve, demand curve
- Governments - externalities, positive and negative externalities, taxation, the multiplier with tax, aggregate demand and GDP, indirect tax cuts, fiscal stimulus
- Aggregate supply, aggregate demand, price inflation and balance of trade - demand, GDP and capacity, Phillips and aggregate supply curves, Aggregate Demand curve and inflation, trade balance/balance of trade
- Marginal cost curve
- Average Total cost curve
- Opportunity cost
- Unemployment and employment
- Savings
- Aggregate savings rate
- Interest rates
- Public spending
- Supply shocks
- Demand shocks
- Trade deficit
- Inflation
- Monopolistic competition
- Monopoly
- Indifference curves
- Oligopoly
- Collusion
- Social costs of a monopoly
- Cartels
- Regulators
- Government failure
- Capital accumulation
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