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Decks in this class (31)
Macro
What is macroeconomics 1,
Why do economists use models 2,
What does the circular flow of in...
38
cards
1.1 Intro To Micro
Define economics 1,
Define human wants 2
2
cards
National Income Accounting
Why do we need national income ac...,
Define national income accounting 2,
What does gdp stand for 3
16
cards
Economic Systems
Define economic system 1,
What are the 3 economic systems 2,
Define free market economy 3
5
cards
Opportunity Cost
Define opportunity cost 1
1
cards
PPC
What does ppc stand for 1,
What is ppc based on 2,
What 5 things does a ppc diagram ...
7
cards
GNI
Define gni 1,
What is the formula for gni 2,
What is the formula for net incom...
5
cards
Real GDP + PPP + Business Cycles
Why does nominal gdp rise 1,
Why do we use real gdp 2,
Define real gdp 3
26
cards
2.1 Demand Theory
Define market 1,
Define demand 2,
Why do individuals buy goods serv...
32
cards
Growth Rates
What do growth rates show 1
1
cards
Positive + Normative Economics
Define positive economics 1,
Define normative economics 2
2
cards
Supply Theory
Define supply 1,
Define law of supply 2,
Name 6 non price determinants of ...
6
cards
Alternative Measures Of Well-being
Name 3 alternative measures of we...,
What is the oecd better life index 2,
Pros of oecd better life index 3
11
cards
Aggregate Demand + Supply
Define aggregate demand ad 1,
What does the ad curve show 2,
Define average price level 3
123
cards
Market Efficiency + Consumer + Producer Surplus
Define allocative efficiency 1,
What does it mean if there is all...,
When does allocative efficiency o...
5
cards
Price Elasticity Of Demand
Define price elasticity of demand...,
What is the equation for ped 2,
Is a good with ped 1 or ped 1 pri...
31
cards
Nov
Why a market can be in equilibriu...,
3 how an inflationary gap occurs ...,
Function of the signaling function 3
9
cards
[FEB] - Unemployment
Define employment 1,
Define unemployment 2,
Define labour force 3
69
cards
[FEB] - Income Elasticity Of Demand
What is the symbol for income ela...,
Define income elasticity of deman...,
What is the equation for yed 3
38
cards
[FEB] - Economic Growth
What is economic growth 1,
What is the equation for economic...,
What is the unit of economic grow...
22
cards
[FEB] - Inflation + Deflation + CPI
What is inflation 1,
What is deflation 2,
How to measure inflation 3
69
cards
[FEB] - Subsidies
What is a subsidy 1,
What are 3 examples of subsidies 2,
What are 4 reasons governments gi...
10
cards
[FEB] - Maximum + Minimum Prices
What is a maximum price 1,
Reasons for maximum prices 2,
What type of goods are maximum pr...
43
cards
[FEB] - Price Elasticity Of Supply
What is price elasticity of suppl...,
What is the equation for pes 2,
Is the value of pes typically pos...
28
cards
[FEB] - Indirect Taxes
What is an indirect tax 1,
What are 2 types of indirect tax 2,
What is an ad valorem tax 3
14
cards
[FEB] - Price Mechanism + Allocation of Resources
What is allocation of resources 1,
What does the price mechanism do ...,
What is the signaling function of...
16
cards
[FEB] - Direct Provision + CCRL
What is direct provision of servi...,
When do governments provide servi...,
Which 2 types of goods are common...
8
cards
[MAR] - Phillips Curve
What is the short run phillips cu...,
What does the srpc suggest to pol...,
In the srpc what two factors is t...
23
cards
[MAR] - Monetary Policy
What is monetary policy 1,
What is a demand side policy 2,
What institution is responsible f...
85
cards
[MAR] - Externalities
What is market failure 1,
What is marginal private benefit ...,
Is the mpb curve upward or downwa...
111
cards
Fiscal Policy
What are the 3 main sources of go...,
What are the 3 main types of gove...,
What are current expenditures 3
42
cards
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Econ
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