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Bella V
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Decks in this class (14)
Chapter 1: Intro
What is economics,
Scarcity,
What is our wants limited by
40
cards
Chapter 2: The Economic Problem
How do we increase the production...,
Production possibilities frontier...,
Points outside the frontier are _...
26
cards
Chapter 3: Demand & Supply
What are the 2 sides of a market,
Competitive market,
Producers offer items for sale if...
39
cards
Chapter 4: Elasticity
Recap as supply decreases equilib...,
What occurs if the quantity deman...,
What occurs when quantity demande...
19
cards
Chapter 5: Equity & Efficiency
What are the 8 resource allocatio...,
Market price,
Majority rule
31
cards
CHAPTER 6
Price ceiling cap,
What happens when a price cap is ...,
What is a rent ceiling
50
cards
CHAPTER 7: Global Markets in Action
What is the difference between an...,
What is the fundamental driving f...,
What is a national comparative ad...
23
cards
CHAPTER 8: Utility & Demand
What are consumption choices,
What are consumption possibilitie...,
A budget line describes the bound...
30
cards
CHAPTER 9: Possibilities, Preferences, & Choices
Consumption possibilities are cho...,
What does the household budget li...,
What are divisible goods
31
cards
CHAPTER 10: Outputs & Costs
Firm,
The ultimate goal of firms is to,
Depreciation describes a fall in the
45
cards
CHAPTER 11: Perfect Competition
Perfect competition describes a m...,
When does perfect competition arise,
What is a price taker
27
cards
CHAPTER 12: Monopoly
What is a monopoly,
How does technology weaken or str...,
What are barriers to entry explai...
24
cards
CHAPTER 13: Monopolistic Competition
Monopolistic competition,
In monopolistic competition the i...,
What is product differentiation
12
cards
CHAPTER 14: Oligopoly
Oligopoly is a market in which,
What is a duopoly,
Firms in oligopoly are ______ fac...
15
cards
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ECON 1050
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