This class was created by Brainscape user Kaitlyn Kirt. Visit their profile to learn more about the creator.
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Kaitlyn Kirt
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Decks in this class (11)
Chapter 1: Introduction to Economics
Economics is best defined as the ...,
Your opportunity cost of going to...,
A marginal change is one that
12
cards
Chapter 2: Markets
A change in which of the followin...,
Movie tickets and dvds are substi...,
The discovery of a large new rese...
5
cards
Chapter 3: Elasticity
A life saving medicine without an...,
The price of a good rises from 8 ...,
A linear downward sloping demand ...
5
cards
Chapter 4: Markets and Government Policy
When the government imposes a bin...,
In a market with a binding price ...,
A 1 per unit tax levied on consum...
6
cards
Chapter 5: The Welfare of Markets
Jen values her time at 60 an hour...,
The demand curve for cookies is d...,
John has been working as a tutor ...
17
cards
Chapter 6: Externalities and Types of Goods
Which of the following is an exam...,
If the production of a good yield...,
When the government levies a tax ...
6
cards
Chapter 7: Costs of Production
What are fixed costs,
What are variable costs,
What is a production function
13
cards
Chapter 8: Perfect Competition
What is a perfectly competitive m...,
What is marginal revenue,
What happens when a firm is shut ...
5
cards
Chapter 9: Monopoly
What is a monopoly,
What are price effects and output...,
What are barriers to entry
4
cards
Chapter 10: Monopolistic Competition and Oligopoly
What is monopolistic competition,
What is an oligopoly,
What is a duopoly
11
cards
Chapter 11: Household Choices
What is a budget constraint,
What is an indifference curve,
What is the marginal rate of subs...
5
cards
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ECON 100
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