This class was created by Brainscape user Gloria Kelly. Visit their profile to learn more about the creator.
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Gloria Kelly
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Decks in this class (10)
Basic Economics, Supply, Demand and Equilibrium
PPF, Key Concepts, Demand, Supply, Equilibrium/Price Determination, The Price Mechanism, Producer/Consumer Surplus.
37
cards
Profit
What is accounting profit,
What is economic profit,
Where on a total cost total reven...
31
cards
Externalities
What 3 ways can the gov correct a...,
What is an indirect tax,
What is regulation
8
cards
Price Controls
Reasons for price ceilings 3,
Reasons for price floors 3,
Price ceilings impact of price an...
7
cards
Elasticity
Elasticity of: Demand, Supply, income, Cross Price
26
cards
Government Intervention
Indirect taxes, subsidies and Price controls
11
cards
Externalities
What is an externality,
What is a marginal private cost,
What is a marginal social cost
15
cards
Labour Markets
What is the substitution effect d...,
What is mrp marginal revenue product,
Why is the labour demand curve do...
21
cards
Public Goods, Info Failure and Gov. Failure
(left overs from Market Failure)
13
cards
Graphs to draw
Draw a ppf diagram,
Draw a demand curve shift outwards,
Draw a supply curve shift rightwards
21
cards
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AS Econ Micro
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