The Student Room Group

The Economics Game

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Reply 40
Guys! Don't just say the words write the definitions as well otherwise the game dies!
Reply 41
Original post by MrEboueEmmanuel
Lorenz curve- graphical representation of the proportionality of a distribution.


Endogeneity - the bane of just about any empirical economic research... otherwise known as the problem in an economic model when a covariate(s) is correlated with the error term.
(edited 12 years ago)
Reply 42
Original post by tateco
Revenue


Education - A supply side measure to shift the LRAS to the right.
Reply 43
Original post by MrEboueEmmanuel
Lorenz curve- graphical representation of the proportionality of a distribution.


Export-led growth - growth fuelled by increasing exports
Reply 44
Original post by tateco
Revenue


Elastic.
Reply 45
Original post by Nextmove
Education - A supply side measure to shift the LRAS to the right.


Notation - a short-hand way of writing unusually long words like aggregate-supply, a method which is often adopted in economics
Reply 46
Original post by Groat
Elastic.



Consumption - The amount of goods brought in an economy
Reply 47
Original post by tateco
Notation - a short-hand way of writing unusually long words like aggregate-supply, a method which is often adopted in economics


Hey! That doesn't count cheater!
Original post by Groat
Elastic.


Cross elasticity of demand-Measures the responsiveness of the demand of a good or service to a change in price of another good or service.
Reply 49
Original post by Groat
Elastic.


Cost - the value of the alternative
Original post by Nextmove
Consumption - The amount of goods brought in an economy


Natural monopoly - when a monopoly arises because it is more efficient for one company to provide a good/service than for more than one to do so.
Reply 51
Original post by Groat
Elastic.


Coase Theorem - distribution of property rights has no effect if parties can negotiate, you'll always get an efficient outcome.
Reply 52
Original post by tateco
Cost - the value of the alternative


Turnover - Total revenue accumulated by a business over a certain time
Reply 53
Original post by Nextmove
Hey! That doesn't count cheater!


That's where trying to be funny gets me :/

Net investment - gross investment with depreciation subtracted
Reply 54
Original post by Swayum
Coase Theorem - distribution of property rights has no effect if parties can negotiate.


Merit good - a good that has more private benefits than consumers realise.
Original post by Groat
Merit good - a good that has more private benefits than consumers realise.


Deficit - where spending exceeds revenue.
demerit good - a good that is more harmful for consumers than they realise.
Reply 57
Original post by ArsLongaVitaBrevis
Deficit - where spending exceeds revenue.


Thatcherism - supply side policies and reduced involvement of the government
Reply 58
Original post by ilovedubstep
demerit good - a good that is more harmful for consumers than they realise.


Diamond-Dyvbig Banking Model - a model to explain why there are bank runs
Reply 59
Original post by tateco
Thatcherism - supply side policies and reduced involvement of the government


There are like 3 answers to that but they all end in Y so I cant use them. Otherwise it'll be game over! hmmm...

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