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econ. markets-demand and supply

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

By: nishika egodage
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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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