econ. markets-demand and supply

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

Decks in this class (13)

diminishing marginal utility
What is the law of diminishing ma...,
What does the law of diminishing ...,
If diminishing marginal utility s...
4  cards
the income effect
What is the income effect used to...,
What is the income effect 2,
Blank 3
3  cards
the substitution effect
What is a substitute 1,
What is the substitution effect 2
2  cards
shifts in demand
What is the effect of a change in...,
What are the 9 factors that may c...
2  cards
Supply curve
Define supply 1,
What is the law of supply 2,
What are the 5 things that cause ...
3  cards
Economic markets
How does a free market work 1,
How does a command market work 2,
Cons of free markets 3
10  cards
specialisation an division of labour
Define division of labour and spe...,
How does specialisation help redu...,
How will increased trade increase...
5  cards
consumer surplus
Define consumer surplus 1,
How do you calculate consumer sur...,
How to calculate change in surplus 3
4  cards
producer surplus
Define producer surplus 1,
How do you calculate producer sur...,
What causes a change in producer ...
4  cards
market equilibrium
What is a market equilibrium and ...,
What do shifts in the demand and ...
2  cards
consumer behaviour
Who is a irrational and rational ...,
Give 6 reasons why a consumer wou...
2  cards
tax
Define indirect tax 1,
What are the 2 types of indirect ...,
Define direct tax 3
6  cards
financial markets
Define financial market 1,
Give 5 functions of financial mar...
2  cards

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econ. markets-demand and supply

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