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17 Cards in this Set
- Front
- Back
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factors affecting demand |
Future prices Income Substitutes Change in taste Size |
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factors affecting elasticity of demand |
Habit forming
Income Luxury Time followed to price change Substitutes |
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factors affecting market supply |
Factors of production Itself - price of goods Season influence Technology Substitutes Quantity of goods |
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factors which increase or decrease supply |
Season
Substitute Technology Resources Regulations Factors of production |
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factors of elasticity of supply |
Time Excess capacity Ability to hold stock |
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factors influencing labour demand (output/external) |
Economic conditions Conditions of firm Demand for the Firms product |
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factors influencing labour demand (input/internal) |
Productivity of labour v Other input
Cost of labour v Other inputs Cost of labour v Cost of foreign labour |
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factors influencing labour supply |
Mobility of labour
Experience/education/skills Working conditions Pay levels Geographic |
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difference in wage outcomes |
gender geographic mobility capacity of firm to pay age productivity of labour occupations |
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economic benefits of inequality |
education increase work longer labour more mobile |
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economic cost of inequality |
Reduce economic growth reduce investment & consumption create social problems welfare support cost increase |
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influences of interest rates |
Capital goods demand Inflation expectations Government budget Savings International interest rates Liquid funds |
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government expenditure |
Health Infrastructure Environmental Social welfare Education |
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government revenue |
Goods and services tax Income tax Custom tax Excise duty |
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injections |
government spending exports investing |
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withdrawn |
tax import saving |
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role of share markets |
Investors Dividends Capital gain |
