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EC1002 Introduction to Economics

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

By: Polar Mish
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Decks in this class (13)

The Economy and Tools of Economic Analysis
What is the biggest problem in th...,
What are the causes of scarcity 1...,
The economy should mitigate the p...
45  cards
Demand, Supply & The Market
What is demand,
Why is the demand curve sloping d...,
What is the difference between de...
25  cards
Elasticity
0  cards
Consumer Choice
What does a budget line show,
What determines the position of t...,
What does the indifference curve ...
36  cards
The Firm
What is the theory of supply,
What are the 3 types of firms,
What is revenue
11  cards
Perfect Competition
What are the assumptions of a per...,
What does allocative efficiency i...,
What is consumer surplus
5  cards
Pure Monopoly
Why is it called pure monopoly,
What are the assumptions of a mon...,
Why does monopoly have no supply ...
19  cards
Imperfect Competition
Aka,
What are the assumptions of a imp...,
What profit does mpc firm make in...
23  cards
The Labour Market
What is a production technique,
What is the substitution and outp...,
What is the marginal product of l...
21  cards
Macroeconomics
The circular flow of income,
Circular flow of income in a clos...,
Circular flow of income in open e...
25  cards
Past Exams
Own price elasticity,
Price elasticity of demand ped,
Purchasing power parity ppp
37  cards
BVFD
Intercept,
Slope,
Law of demand
14  cards
Microeconomics Revision
What is the objective of consumer...,
What are the assumptions of the i...,
Slope of indifference curve
31  cards

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EC1002 Introduction to Economics

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