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  /Title (economics-revision.pdf)
  /Creator (Cheatography)
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  /Subject (Economics Revision Cheat Sheet)
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Economics Revision Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{{[}deleted{]}} via \textcolor{DarkBackground}{\uline{cheatography.com/21613/cs/4202/}}}
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 1st June, 2015.\\
   Updated 13th May, 2016.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Macroeconomics}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{- Macroeconomics focuses on the holistic view of an economy or a country \newline % Row Count 2 (+ 2)
Macro based mostly on: \newline % Row Count 3 (+ 1)
- Growth \newline % Row Count 4 (+ 1)
- Price Level (Inflation) \newline % Row Count 5 (+ 1)
- Labour Markets (unemployment) \newline % Row Count 6 (+ 1)
- Balance in Foreign Sector \newline % Row Count 7 (+ 1)
Macro policies include Monetary and Fiscal which influence economy spending. Can be used by government to balance trades or influence growth.% Row Count 10 (+ 3)
} \tn 
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Macro Micro}}  \tn
% Row 0
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{\bf{Macro}} & {\bf{Micro}} \tn 
% Row Count 1 (+ 1)
% Row 1
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Focus on holistic level & Focus on individual level \tn 
% Row Count 3 (+ 2)
% Row 2
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GDP, GNP, Spending of economy & Needs, buying habits of individual consumer \tn 
% Row Count 6 (+ 3)
% Row 3
\SetRowColor{white}
{\emph{Example:}} Studying how implementing stabilization policy affects economy expenditure & {\emph{Example:}} Studying how firms react to increasing costs of production by raising the priuce and subsequently how consumers spending adjusts to new prices \tn 
% Row Count 14 (+ 8)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Factors of Production}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{The factors of production are inputs that are used in the production of goods or services. These are primarily \newline % Row Count 3 (+ 3)
- Land \newline % Row Count 4 (+ 1)
- Labour \newline % Row Count 5 (+ 1)
- Capital \newline % Row Count 6 (+ 1)
- \seqsplit{Enterprise/Entreprenuership}% Row Count 7 (+ 1)
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Basic Economic Problem}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Fundamental economic problem is {\bf{Scarcity}} \newline % Row Count 1 (+ 1)
{\bf{Unlimited Wants}} of consumers \newline % Row Count 2 (+ 1)
{\bf{Limited Resources}} available \newline % Row Count 3 (+ 1)
- It is the duty of entrepreneurs and businesses to use efficient allocation of f.o.p.'s to minimize the problem of Scarcity% Row Count 6 (+ 3)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Circular Flow of Income}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Strong Economy}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Why UK wants a strong economy}} \newline % Row Count 1 (+ 1)
- GDP/GNP Increase \newline % Row Count 2 (+ 1)
- Maintain international reputation \newline % Row Count 3 (+ 1)
- Improved infrastructure \newline % Row Count 4 (+ 1)
- Attracts F.D.I. \newline % Row Count 5 (+ 1)
- B.O.P. comes down \newline % Row Count 6 (+ 1)
- Demand for Exports \newline % Row Count 7 (+ 1)
- Income Increases \newline % Row Count 8 (+ 1)
- Lower unemployment% Row Count 9 (+ 1)
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Mergers and Takeovers}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Q - Identify differences b/w Merger and Takeover}} \newline % Row Count 2 (+ 2)
{\emph{Mergers}} \newline % Row Count 3 (+ 1)
- Three types of mergers (Vertical, Horizontal, Conglomerate) \newline % Row Count 5 (+ 2)
- A and B unite to become C \newline % Row Count 6 (+ 1)
- Example: Sony Ericsson  \newline % Row Count 7 (+ 1)
{\emph{Takeovers}} \newline % Row Count 8 (+ 1)
- Where A acquires B to become a bigger A \newline % Row Count 9 (+ 1)
- Can be either hostile or friendly \newline % Row Count 10 (+ 1)
- Hostile can include buying all shares of the target company \newline % Row Count 12 (+ 2)
- Example Queen Consolidated  \newline % Row Count 13 (+ 1)
{\bf{Q - Discuss the benefits and drawbacks of Mergers and Takeovers}} \newline % Row Count 15 (+ 2)
{\emph{Benefits}} \newline % Row Count 16 (+ 1)
- Shared Knowledge \newline % Row Count 17 (+ 1)
- Market Popularity  \newline % Row Count 18 (+ 1)
- Economies of Scale \newline % Row Count 19 (+ 1)
- New Markets  \newline % Row Count 20 (+ 1)
{\emph{Drawbacks}} \newline % Row Count 21 (+ 1)
- May not be on same terms (hostile)  \newline % Row Count 22 (+ 1)
- Culture clash  \newline % Row Count 23 (+ 1)
- Layovers \newline % Row Count 24 (+ 1)
- Inefficient Management% Row Count 25 (+ 1)
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Unemployment}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Q - Identify the different types of unemployment}} \newline % Row Count 2 (+ 2)
- Seasonal \newline % Row Count 3 (+ 1)
- Cyclical \newline % Row Count 4 (+ 1)
- Structural \newline % Row Count 5 (+ 1)
- Frictional \newline % Row Count 6 (+ 1)
{\bf{Q - Describe two ways to reduce unemployment}} \newline % Row Count 7 (+ 1)
- Better training provided for youth \newline % Row Count 8 (+ 1)
- Government subsidies for entrepreneurs and small business \newline % Row Count 10 (+ 2)
{\bf{Q - Two reasons why govt. wishes to reduce unemployment}} \newline % Row Count 12 (+ 2)
- Looks politically good in the international market \newline % Row Count 14 (+ 2)
- Increased productivity and production capabilities \newline % Row Count 16 (+ 2)
- Less burden on Medical and Healthcare facilities% Row Count 17 (+ 1)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Oppurtunity Cost}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Next best opportunity forgone. \newline % Row Count 1 (+ 1)
{\emph{Example:}} A consumer is given the choice of buying either a brand new iPhone or a Laptop. If the consumer chooses the iPhone, the Laptop is the {\bf{Opportunity Cost}}% Row Count 5 (+ 4)
} \tn 
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Stabilization Policies}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Q - Describe the two Stabilization Policies and importance to business in UK}} \newline % Row Count 2 (+ 2)
{\emph{Stabilization Policy}} \newline % Row Count 3 (+ 1)
- Policies which seek to influence level of aggregrate demand \newline % Row Count 5 (+ 2)
{\emph{Monetary Policy}} \newline % Row Count 6 (+ 1)
- Influences aggregrate demand by changing money supply and/or interest rates \newline % Row Count 8 (+ 2)
{\emph{Fiscal Policy}} \newline % Row Count 9 (+ 1)
- Influences aggregrate demand by changing governmnet spending or tax rates \newline % Row Count 11 (+ 2)
{\emph{UK Bussinesses}} \newline % Row Count 12 (+ 1)
- Using Fiscal Policy to reduce tax rates and encourage firms to produce more goods and services \newline % Row Count 14 (+ 2)
- Lower interest rates attract entreperenuers to take loans and invest in new businesses% Row Count 16 (+ 2)
} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
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\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}