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Economics A-Level Flashcards

0.02MB. 0 audio & 0 images. Updated 2018-04-15.

Description

Economics A-Level Flashcards Theme 1

Sample (from 93 notes)

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Front Tradeable pollution permits
Back These are pollution permits that can be bought and sold in a market. This is an attempt to solve the problem of pollution by creating a market for it.These permits are tradeable -> this means that firms can sell them to other firms
Tags 1.4
Front Ways a government can intervene in a market
Back - taxation- subsidies- provision of public goods- maximum prices- minimum prices- provision of market information- trade pollution permits- regulationThe disadvantages of government intervention can lead to government failure
Tags 1.4
Front Rational Decision Making
Back The assumption that consumers aim to maximise utility, and producers aim to maximise profit
Tags 1.1

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