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ECON MICRO- ABDULLAH

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

By: Shyam Gupta
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Decks in this class (14)

Economics As A Social Science
Why do economists use models,
What is the ceteris paribus assum...,
Why is the ceteris paribus assump...
4  cards
Postive And Normative Economic Statements
What are positive economic statem...,
What are normative economic state...,
What are the role of value judgme...
3  cards
The Economic Problem
What is the economic problem,
What is scarcity,
What questions does the issue of ...
12  cards
Production Possibility Frontier
What is a production possibility ...,
What dos this graph suggest,
What if there is a point to the r...
5  cards
Specialisation And Division Of Labour
What is division of labour,
Who was adam smith and what did h...,
How might a firm benefit from the...
10  cards
Free Market Economies, Mixed Economy And Command Economy
What is a free market economy,
What are the characteristics of a...,
What did adam smith say about the...
14  cards
Demand
What is the definition of demand,
What happens to the demand curve ...,
Why the downward slope of the dem...
6  cards
Supply
What is the definition of supply,
What causes movements along a sup...,
What causes a shift in the supply...
5  cards
Elasticties
Defining inelastic and elastic
1  cards
Price, Income And Cross Elasticies Of Demand
What is the cross elasticity of d...,
What is the formula for xed,
What xed does a substitute good have
4  cards
Market Failure- Externalities
What is market failure,
What are externalities,
What are external costs
23  cards
Market Failure- Public Goods
What is the difference between a ...,
What is the free rider problem,
Are healthcare and education publ...
5  cards
Uu
0  cards
Information Gaps
What is an information gap imperf...,
What is incomplete information,
How does government intervene in ...
8  cards

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ECON MICRO- ABDULLAH

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