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Aarun ECON (Theme 1)

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

By: Shyam Gupta
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Decks in this class (18)

LS1 And LS2 - Economics, Economy, Good, Service + Models In Economies
Economy,
Factors of productions,
Capital
9  cards
LS3 And LS4 - Oppurtunity Cost, PPF, Goods, Statements
Opportunity cost,
Uses of opportunity cost,
Ppf
10  cards
LS5 - Specialisation, Functions Of Money
Specialisation,
Division of labour,
Productivity
10  cards
LS6 - Economic Systems
Unit cost,
Market,
Price mechanism
10  cards
LS7 - Decision Making
Rational behaviour,
Utility,
Utility for firms
5  cards
LS8, 9, 10 - Demand, Supply, Price Determination
Demand,
As price increases,
Substitute good
13  cards
LS11 - Taxes And Subsidies
Direct tax,
Indirect tax,
Specific tax
5  cards
LS12 - Elasticity
Ped,
Determinants for ped,
Ped and pes values
5  cards
LS13 - Consumer And Producer Surplus
Consumer surplus,
Producer surplus,
Incidence of indirect tax
4  cards
LS14 - Diminishing Marginal Utility
Income effect,
Marginal utility,
Diminishing marginal utility
3  cards
LS15 - XED And YED
Xed,
Xed values,
Yed
3  cards
LS16 - Price Mechanism
Functions,
Rationing,
Incentivise
4  cards
LS17 - Market Failure And Externalities
Market failure,
External cost,
External benefit
4  cards
LS18 - Public Goods
Non rivalrous,
Non excludable,
Free rider problem
10  cards
LS19 - Information Gaps
Perfect information,
Symmetric information,
Imperfect information
5  cards
LS20 - Max And Min Prices
Maximum price,
Minimum price,
Guaranteed minimum pricing scheme
9  cards
LS21, LS22 - Tradeable Pollution Permits And Regulation
How do tpps work,
Emission trading scheme advantages,
Emission trading schemes disadvan...
8  cards
LS23 - Government Failure
Government failure,
Unintended consequences,
Distorting of price signals
5  cards

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Aarun ECON (Theme 1)

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