1
Q
What is
A
positive
2
Q
What should be
A
Normative
3
Q
The study of how the distribution of resources affects society as a whole.
A
Welfare Economics
4
Q
The “extra” amount of money a buyer has left over after a purchase. Buyer Value - Amount Paid
A
Consumer Surplus
Intro To Microeconomics
flashcards
Decks in class (23)
# Cards
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Chapter I "Ten principles of Economics" Terms15
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Chapter II "Thinking Like An Economist"7
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"Auctions" Lecture (Ch I+II)15
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Chapter IV "The Market Forces of Supply and Demand"28
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"Supply & Demand" Lecture (2)6
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Lecture IV "Demand/Supply changes"8
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Chapter V: "Elasticiy And Its Application"3
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Ch. 7:4
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Lecture VI0
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Lecture VII: "Econland, Pareto Efficiency"6
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Chapter VI - Supply, Demand, And Government Policies5
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Lecture 4-1: ""5
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Lecture 4-28
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Lecture 4-3 Taxes, Subsidies6
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Ch.8: The Burden of Taxation6
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Lec 5-17
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Lecture 5-3 "Quotas, Cap & Trade"3
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Lec. 7-1: "Carbon emissions, Int'l trade"5
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Lec 7.27
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Lec: 7-3 "Gains From Trade"8
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Ch. 11: The Economics Of The Public Sector8
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Chapter 13: "The Cost of Production"6
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Aplia Probs (week 10(3
