Quick Revision Quiz
What are two benefits of using a Tradable Pollution Permits scheme?
What are the objectives of firms in a market? (generally)
Given something of the form a^m, what word do we use to describe a?
What is the equation for the Quantity Theory of Money and what does each part stand for?
Define Structural Deficit.
Define productivity.
Explain the concept of natural monopoly and draw the diagram.
Say that Goods A and B are Substitute Goods and the price of Good B goes down. What will happen to demand for Good A?
Define Behavioural Barrier to Entry
Describe how to construct a Production Possibility Frontier (PPF) and what it shows.
