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Diagram Cheat Sheet

The document outlines various market structures including monopoly, oligopoly, and competition, highlighting concepts like price discrimination and market failure. It discusses labor market dynamics, including trade unions and national minimum wage implications in different contexts. Additionally, it covers government interventions in the economy, such as taxes, subsidies, and their effects on inequality and growth.

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44 views3 pages

Diagram Cheat Sheet

The document outlines various market structures including monopoly, oligopoly, and competition, highlighting concepts like price discrimination and market failure. It discusses labor market dynamics, including trade unions and national minimum wage implications in different contexts. Additionally, it covers government interventions in the economy, such as taxes, subsidies, and their effects on inequality and growth.

Uploaded by

9rrcjhvxb8
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MARKET STRUCTURES

Good vs Selfish Monopoly High MES - Large vs Small Firm Natural Monopoly
Monopoly

Price Discrimination
Price Discrimination (Gained Revenue) Oligopoly (Game Theory)
(Spare Capacity)

Monopolistic Monopolistic Oligopoly (Kinked Demand Curve)


Perfect Competition
Competition (SR) Competition (LR)

Collusive vs Competitive
Contestable Market
Oligopoly

LABOUR MARKET
Trade Union (Employer Trade Union NMW (Employer in NMW (Monopsony
in competitive market) (Monopsony Employer) competitive market Employer)

Access explanations of diagrams on gatutors.super.site


NMW in area of low cost of NMW in area of high Monopsony Structural
living (North East, Wales etc.) cost of living (London) Employer Unemployment

MARKET FAILURE AND GOVERNMENT INTERVENTION


Positive Consumption Negative Consumption
Positive Production Negative Production
Externality Externality
Externality Externality

Tax

Subsidy Laffer Curve


Maximum Price

Minimum Price Crowding Out

Inequality
Lorenz Curve
Top Rate of Income tax coinciding with increased Inequality

Kuznet Curve – Income Inequality


Lower inequality doesn’t necessarily
mean improved standard of living

Access explanations of diagrams on gatutors.super.site


International Economy
Free Trade Protectionism
J Curve

Poverty Cycle

Keynesian + Macroeconomic Curves


Implementation of Positive Multiplier
Sustainable Growth Unsustainable Growth
Supply Side Policy

Flattened Phillips Curve


Negative Multiplier Original Phillips Curve

Access explanations of diagrams on gatutors.super.site

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