Individuals, firms, markets and market failure key terms

Production and productivity

Production and productivity is the AQA 7136 economic concept for Production and productivity. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Production and productivity application

Production and productivity application is the AO2 application cue for Production and productivity. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Specialisation, division of labour and exchange

Specialisation, division of labour and exchange is the AQA 7136 economic concept for Specialisation, division of labour and exchange. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Specialisation, division of labour and exchange application

Specialisation, division of labour and exchange application is the AO2 application cue for Specialisation, division of labour and exchange. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

The law of diminishing returns and returns to scale

The law of diminishing returns and returns to scale is the AQA 7136 economic concept for The law of diminishing returns and returns to scale. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

The law of diminishing returns and returns to scale application

The law of diminishing returns and returns to scale application is the AO2 application cue for The law of diminishing returns and returns to scale. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Costs of production

Costs of production is the AQA 7136 economic concept for Costs of production. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Costs of production application

Costs of production application is the AO2 application cue for Costs of production. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Economies and diseconomies of scale

Economies and diseconomies of scale is the AQA 7136 economic concept for Economies and diseconomies of scale. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Economies and diseconomies of scale application

Economies and diseconomies of scale application is the AO2 application cue for Economies and diseconomies of scale. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Marginal, average and total revenue

Marginal, average and total revenue is the AQA 7136 economic concept for Marginal, average and total revenue. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Marginal, average and total revenue application

Marginal, average and total revenue application is the AO2 application cue for Marginal, average and total revenue. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Profit

Profit is the AQA 7136 economic concept for Profit. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Profit application

Profit application is the AO2 application cue for Profit. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Technological change

Technological change is the AQA 7136 economic concept for Technological change. Use it for AO1 by defining the idea accurately, then apply it to Production, costs and revenue rather than treating the term as a loose label.

Technological change application

Technological change application is the AO2 application cue for Technological change. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Market structures

Market structures is the AQA 7136 economic concept for Market structures. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Market structures application

Market structures application is the AO2 application cue for Market structures. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

The objectives of firms

The objectives of firms is the AQA 7136 economic concept for The objectives of firms. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

The objectives of firms application

The objectives of firms application is the AO2 application cue for The objectives of firms. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Perfect competition

Perfect competition is the AQA 7136 economic concept for Perfect competition. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Perfect competition application

Perfect competition application is the AO2 application cue for Perfect competition. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Monopolistic competition

Monopolistic competition is the AQA 7136 economic concept for Monopolistic competition. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Monopolistic competition application

Monopolistic competition application is the AO2 application cue for Monopolistic competition. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Oligopoly

Oligopoly is the AQA 7136 economic concept for Oligopoly. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Oligopoly application

Oligopoly application is the AO2 application cue for Oligopoly. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Monopoly and monopoly power

Monopoly and monopoly power is the AQA 7136 economic concept for Monopoly and monopoly power. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Monopoly and monopoly power application

Monopoly and monopoly power application is the AO2 application cue for Monopoly and monopoly power. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.

Price discrimination

Price discrimination is the AQA 7136 economic concept for Price discrimination. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.

Price discrimination application

Price discrimination application is the AO2 application cue for Price discrimination. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.