The Student Room Group

The Economics Game

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Reply 380
Original post by Caveman3222
Assymmetric information - when one person knows more then another person, usually results in information failure.


Oligopoly - a market dominated by a small number of firms.
Original post by Groat
Oligopoly - a market dominated by a small number of firms.


Laissez-faire : letting things be in the market economy
Reply 382
Original post by Brand New Eyes
Laissez-faire : letting things be in the market economy


Regressive tax - a tax which takes a higher proportion of the poor's income than the rich.
Original post by Groat
Regressive tax - a tax which takes a higher proportion of the poor's income than the rich.


Average cost - TC/Q
Supply
Laffer Curve - the boob graph. :smile:

Spoiler

(edited 12 years ago)
Reply 386
Exchange rates - The rate, or price, at which one country's currency is exchanged for the currency of another country.
Elasticity
Original post by abisolaay
Elasticity


Terms of trade - Measures the prices of exports from a country compared to the prices of imports into a country
Reply 389
Original post by Joseanne16
Terms of trade - Measures the prices of exports from a country compared to the prices of imports into a country


Demand Pull Inflation.
Organisational Slack

The marginal perpensity to consume
Reply 392
this thread is informative!
Reply 393
Original post by neiljeff123
Y is hard! I cant think of any


First reply and seems someone (and others) failed to read the OP.

"which starts with the second-last letter of the word from the above post. (To avoid the numerous words ending with y in economics)."
Reply 394
Original post by CityTrader
The marginal perpensity to consume


Monetary Policy Committee (a different sort of MPC to the one above)
Reply 395
Original post by Conorrr9
Monetary Policy Committee (a different sort of MPC to the one above)


Engel curve.
Reply 396
Original post by Bax-man
Engel curve.


Variables
Reply 397
Original post by Foo.mp3
Equilibria (where more than one equilibrium exists e.g. 'multiple equilibria')


Inelastic
Reply 398
Original post by Foo.mp3
Information Asymmetry (the lack of complete, or 'perfect' information, a condition of perfect competition)


Rational - Function of the price mechanism where resources are allocated to those prepared to pay the highest price
Reply 399
leakage-the loss of capital/resources

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