ECO 025: Basic Microeconomics

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

By: Jerry Ballesteros
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Decks in this class (12)

Module 2: Microeconomics and its Characteristics
__ is a social science that focus...,
Economics has ramifications on a ...,
Economy came from the greek word ...
30  cards
Module 3: Concept of Scarcity and Opportunity Cost in Making Economic Choices
The __ simply notes that economic...,
__ represents the potential benef...
2  cards
Module 4: The Economic Role of Government
The philippines has a __ economic...,
The 8 economic role of government 2,
Role of government in economy 3
17  cards
Module 5: The Application of Law and Demand
__ is an economic principle that ...,
It is the relationship between th...,
Demand shows how much people are ...
17  cards
Module 6: Predicting the Shift in the Demand Curve
Factors determinants increasing d...,
__ is probably the most important...,
An increase in available income i...
12  cards
Module 7: The Concept of Supply
__ refers to the relationship bet...,
The __ says that the higher the p...
2  cards
Module 10: Market Equilibrium, Demand, and Supply Applications
__ is a situation in which the pr...,
__ it is the state in which marke...,
__ is the agreeable price between...
18  cards
Module 11: Concept of Own Price Elasticity of Demand and Total Revenue Test
__ the degree of responsiveness o...,
__ it is the percentage change in...,
Different elasticity values 3
22  cards
Module 12: Cross Price Elasticity of Demand, Income Elasticity of Demand, and Price Elasticity of Supply
_ if exy is positive goods x and ...,
_ when exy is negative the two go...,
__ a near zero or zero coefficien...
6  cards
Module 13: Factors Affecting Consumer Behavior
__ is the study of how people mak...,
__ an economic term referring to ...,
__ a hypothetical unit of measure...
11  cards
Module 14: Concepts of Total Utility and Marginal Utility
__ is the added satisfaction a co...,
_ the _ for a product is based on...,
__ two quantitative concepts rela...
7  cards
Module 15: Understanding Firms’ Behavior
__ refers to the physical relatio...,
_ _ refers to the number of goods...,
__ is the number of resources or ...
24  cards

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ECO 025: Basic Microeconomics

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