Business
Price Elasticity of Demand (PED) – AS/A LEVELS/IB/IAL
5501
0
Microeconomics
AS/A2
Responsiveness of demand for a good due to a change in its price.
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Diseconomies of scale (AS/A LEVELS/IB/IAL)
1862
0
Diseconomies of scale occur when output increases long run average costs also increase.
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Economies of scale (AS/A LEVELS/IB/IAL)
6347
0
As output increases there is a fall in long run average costs.
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Predatory pricing (AS/A LEVELS/IB/IAL)
1134
0
This pricing strategy involves cutting prices below the average cost of production in the short run.
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Opportunity Cost (AS/A LEVELS/IB/IAL)
1485
0
Opportunity cost is to do with making choices.
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Direct & Indirect Taxes (AS/A LEVELS/IB/IAL)
5764
0
A tax is a compulsory charge on the price of goods and services.
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Factors of Production (AS/A LEVELS/IB/IAL)
1601
0
Factors of production (Capital, Enterprise, Labour, Land) are used to produce goods and services.
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0