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Arianna Soriano
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Decks in this class (23)
Chapter 1 (1)
What is economics,
Resources,
Microeconomics
21
cards
Chapter 1 (2)
Problem solving toolbox,
Economic analysis requires,
These analyses distinguish between
17
cards
Chapter 14 (3)
We have to begin our analysis of ...,
It is known that a firm in a perf...,
Monopolists and the demand curve
22
cards
Chapter 2 (1)
Who produces which goods and why,
Production possibilities frontier...,
Ppf constraints on production
8
cards
Chapter 2 (2)
Absolute advantage,
Comparative advantage
2
cards
Chapter 3 (1)
What is a market,
Market,
Competitive market
25
cards
Chapter 3 (2)
Supply,
Quantity supplied,
The supply curve
9
cards
Chapter 4 (1)
It is accepted that price increas...,
Elasticity,
Demand and supply
14
cards
Chapter 4 (2)
At the extremes demand can be,
Perfectly elastic,
Perfectly inelastic
13
cards
Chapter 6 (1)
Recap,
3 reasons why a govt may step in ...,
Correcting market failures
6
cards
Chapter 6 (2)
Price control,
2 opposing categories of price co...,
Price ceilings
9
cards
Chapter 6 (3)
Taxes,
Example of taxes,
Taxes have 2 primary effects
16
cards
Chapter 6 (4)
Subsidies,
Example tortilla,
How does a subsidy affect the sup...
5
cards
Chapter 6 (5)
How big is the effect of a tax su...,
Can the effect of a tax or subsid...,
Long run vs short run impact
6
cards
Chapter 14 (1)
Most firms face some degree of co...,
Monopoly single seller,
Perfect monopoly
5
cards
Chapter 14 (2)
We can see how the forces of comp...,
So why isnt everyone doing it,
4 barriers to entry
12
cards
Chapter 5 (1)
Buyers,
Maximum price willingness to pay,
Sellers
5
cards
Chapter 5 (2)
Surplus is a way of measuring who...,
Surplus,
Willingness to pay
20
cards
Chapter 5 (3)
In a competitive market,
Market equilibrium and efficiency,
What would happen to surplus if t...
8
cards
Chapter 15 (1)
Oligopoly,
Oligopoly examples,
Defining features of an oligopoly
8
cards
Chapter 15 (2)
You might keep an eye on smaller ...,
O the fact that firms in an oligo...,
Oligopolies in competition
17
cards
Chapter 15 (3)
Remember that under the model of ...,
How do monopolistic competitive f...,
Product differentiation
22
cards
Chapter 15 (4)
Like any deviation from the equil...,
Can anything be done about this p...,
Unfortunately regulating a monopo...
6
cards
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Econ 101
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