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The Economics Game

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Reply 360
Avatar for Limitless
Limitless
Original post by POWW!
You have to define as well, No point really if you don't.

Can't think of b

Tax - This can be direct and Indirect, It can be shown on a graph umm there's a burden of incidence
Definition : Lol need to go research this someone help me out :colondollar:


Tax can be a ad valorem tax which is a tax levied as a percentage value of the good or specific/unit tax which is tax levied on volume. Also the incidence of tax is the tax burden on the taxpayer. :smile:

Aggregate Demand - The total of all demand or expenditure in an economy at any given price.
Reply 361
Avatar for Mariana93
Mariana93
Natural Monopoly - a firm that can theoretically gain continuous economies of scale and where it is thus uneconomic for more than one firm to supply the market.
Reply 362
Avatar for POWW!
POWW!
12
Original post by Limitless
Tax can be a ad valorem tax which is a tax levied as a percentage value of the good or specific/unit tax which is tax levied on volume. Also the incidence of tax is the tax burden on the taxpayer. :smile:


Yh and on stuff which has Inelastic ped most of tax is passed on to the consumers
I'm guessing that we dont need a definition for just tax right?
Reply 363
Avatar for Limitless
Limitless
Original post by POWW!
Yh and on stuff which has Inelastic ped most of tax is passed on to the consumers
I'm guessing that we dont need a definition for just tax right?


Yeah. Do you do AQA AS Economics?
Reply 364
Avatar for POWW!
POWW!
12
Original post by Limitless
Yeah. Do you do AQA AS Economics?


Nah Edexcel
Reply 365
Avatar for Groat
Groat
OP
13
Original post by Mariana93
Natural Monopoly - a firm that can theoretically gain continuous economies of scale and where it is thus uneconomic for more than one firm to supply the market.


Liquidity.
Reply 366
Avatar for liviluck
liviluck
Time lag
Alturism- behaving for your own self interest in the hope of utility.
Preferences
Original post by MrCalumJC
Preferences


Efficient Market Hypothesis - security market prices fully reflect all information available in the market
Original post by underrated
Efficient Market Hypothesis - security market prices fully reflect all information available in the market


The January effect - A celebrated anomaly to the EMH, introduced to corporate finance by Rozeff and Kinney (1976) when they observed that stock returns in January were higher than any other month of the year.
Original post by MrCalumJC
The January effect - A celebrated anomaly to the EMH, introduced to corporate finance by Rozeff and Kinney (1976) when they observed that stock returns in January were higher than any other month of the year.


Not sure if you understand the Game? You take the Second Last letter of the economic term and name a term that starts with that letter.

Contestable Market - a market with low/no barriers to entry or exit.
Original post by Caveman3222
Not sure if you understand the Game? You take the Second Last letter of the economic term and name a term that starts with that letter.

Contestable Market - a market with low/no barriers to entry or exit.


Econometrics - the maths behind economics that confuses us all...
Original post by Brand New Eyes
Econometrics - the maths behind economics that confuses us all...


Conglomerate - Integration between firms that are in different, unrelated industries
Original post by Joseanne16
Conglomerate - Integration between firms that are in different, unrelated industries


Trough - the point at which the business cycle changes from recession to recovery
Original post by Brand New Eyes
Trough - the point at which the business cycle changes from recession to recovery


GDP - Gross Domestic Product (the market value of all final goods and services produced within a country in a given period, usually over a year).
Original post by Joseanne16
GDP - Gross Domestic Product (the market value of all final goods and services produced within a country in a given period, usually over a year).


Capitalism - the root of all evil lol jk

the economics system when the factors of production are owned and utilised by private entities for individual profit
Original post by Brand New Eyes
Capitalism - the root of all evil lol jk

the economics system when the factors of production are owned and utilised by private entities for individual profit


Specialization - When an individual/ buisness/ country focuses and specializes on a limited range of tasks.
Original post by Joseanne16
Specialization - When an individual/ buisness/ country focuses and specializes on a limited range of tasks.


I feel like it's only us on this thread now.

Okun's Law - correlation between unemployment and rise in GDP
Original post by Brand New Eyes
I feel like it's only us on this thread now.

Okun's Law - correlation between unemployment and rise in GDP


Assymmetric information - when one person knows more then another person, usually results in information failure.

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