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Caitlin Aguma
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Decks in this class (24)
Nature of economics-economics methodology
economic methodology
4
cards
Nature of economics-positive and normative statements
Positive and normative statements,
Statements in policy making,
3
cards
Nature of economics-the economic problem
The economic problem,
Oppurtunity cost,
Factors of production
4
cards
demand
Demand,
Law of demand,
3
cards
price elasticity of demand
Chain for ped,
Ped chain negative,
Ped number greater than 1
22
cards
ppf
Ppf efficiencies,
Ppf oppurtunity cost,
Oppurtunity cost from not startin...
12
cards
consumer behaviour
T,
Diminishing marginal utility,
Diminishing marginal utility dema...
19
cards
specialisation and division of labour
Productivity,
Specialisation and division of la...,
Money
9
cards
income elasticity of demand
Income elasticity of demand yed,
Income elasticity of demand calcu...,
Yed inferior goods positive negat...
5
cards
cross elasticity of demand
What is cross elasticity of demand,
Xed complements,
Subsititute goods
4
cards
supply and demand cross
1
cards
SUPPLY
Supply and price,
Supply curve
2
cards
price elasticity supplied
Pes,
Interpreting pes,
Elastic supply equation
6
cards
factors affecting pes
Quickly what are the five main fa...,
Spare capacity little spare capac...,
Spare capacity a lot of spare cap...
16
cards
shift in supply
Shifts in supply technology,
Shift in supply weather,
Shifts in supply costs
5
cards
supply meets demand
Supply meets demand,
What does the two supplies togeth...,
Equilibrium excess supply
5
cards
Price mechanism
Price mechanism,
Price mechanism,
Price mechanism signalling
8
cards
supply and demand shifts
!
1
cards
market interrelationships
What are interrelated markets,
Joint supply,
Joint demand
7
cards
labour markets
Marginal revenue production theory,
Mrp and demand for labour curve,
Labour supply and demand how do w...
9
cards
explaining elasticity of demand
What are the factors affecting el...,
Substitutes,
Percentage of total cost
6
cards
labour market shifts
Shifts in demand factors,
Derived demand,
Productivity
9
cards
monopsony
Monopsony definition,
Give examples of monopsony in lab...,
Give examples of monopsony outsid...
15
cards
wage differentials
What are the economic factors of ...,
Wage discrimination,
Nmw and discrimination
3
cards
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CHAINS OF ANALYSIS
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