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Sociology 101 flashcards

(504) Economics and Society

This class was created by Brainscape user Natallie Kh. Visit their profile to learn more about the creator.

By: Natallie Kh
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Decks in this class (12)

01 Macroeconomics Bird's Eye View of the Economy
Main actors in economy,
What do households do,
What do firms do
23  cards
02 Thinking Like an Economist
Scarcity no free lunch principle,
Cost benefit principle,
Incentive principle
15  cards
03 Supply and Demand
Substitutes,
Complements,
Shortage
50  cards
04 Elasticity
Price elasticity of demand,
If price elasticity is greater th...,
Formula for elasticity
34  cards
05 Perfect Competition
Productivity,
As price increases firms in a per...,
Average variable cost avc
32  cards
06 Monopoly
Imperfectly competitive firms,
Monopoly,
Monopolistic competition
25  cards
08 - 12 Intro to Law
The cga applies to,
The cga now includes,
Section 2 of cga defines consumer as
20  cards
08 - 12 Legal Systems
Different powers of government leg,
Different powers of government exec,
Different powers of government judi
7  cards
08 - 12 Constitution
Written constitution,
Unwritten constitution,
The new zealand constitution is d...
7  cards
08 - 12 Contracts
Definition of contract,
Contracts can be verbal or in wri...,
Features of contract law
16  cards
08 - 12 Fair Trading Act
Fta 1986 ensures,
Pre sale protection,
Anyone can
13  cards
07 Externalities
External cost negative externality,
Externality,
External benefit positive externa...
4  cards

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(504) Economics and Society

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