This class was created by Brainscape user Angela Maglalang. Visit their profile to learn more about the creator.
By:
Angela Maglalang
- decks
- flashcards
- learners
Decks in this class (24)
Chapter 1: Economic Principles 1-4
What is economics,
What is individual choice,
What are the 4 basic principles o...
19
cards
Chapter 1: Economic Principles 5-12
What is interaction of choices,
What are the 5 principles that un...,
What is specialization 2
18
cards
Chapter 2: Trade-offs and Trade - Models
We test our hypotheses using a mo...,
Why are models used to better und...,
What is the other things equal as...
15
cards
Chapter 2: Trade-Offs and Trade - The Production Possibility Frontier
What does the production possibil...,
Ppf graph,
What does the ppf model demonstra...
23
cards
Chapter 2: Trade-Offs and Trade - The Circular-Flow Diagram
What is a transaction in trade,
What does the circular flow diagr...,
Circular flow diagram
11
cards
Chapter 3: Supply and Demand - Movement and Shifts of Curves
What is a competitive market 2,
What model shows how a competitiv...,
What are the five key elements to...
21
cards
Chapter 3: Supply and Demand - What Causes a Supply Curve to Shift
What causes a supply curve to shi...,
What is an input,
What is the market supply curve
9
cards
Chapter 4: Consumer and Producer Surplus
How does the market move towards ...,
Without market failures is the eq...,
Government policies that affect a...
21
cards
Chapter 4: Consumer and Producer Surplus - Markets
A market is efficient when the su...,
What is demand,
What is supply
18
cards
Chapter 5: Price Controls and Quotas - Price Ceilings
Why are price controls imposed du...,
What are examples of price contro...,
Why do price ceilings cause ineff...
15
cards
Chapter 5: Price Controls and Quotas - Price Floors
What are price floors for,
Price floor graph,
What happens to excess supply in ...
12
cards
Chapter 5: Price Controls and Quotas - Controlling Quantities
What is a quantity control quota,
What is a quota limit 2,
What is a license
9
cards
Chapter 6: Elasticity - Price Elasticity of Demand
What is price elasticity of demand,
How to calculate price elasticity...,
Midpoint method of calculation
21
cards
Chapter 6: Elasticity - PED Determinants + XED
What are the four major determina...,
Why does the availability of subs...,
Why does proportion of income det...
14
cards
Chapter 6: Elasticity - Income Elasticity of Demand + Price Elasticity of Supply
What is income elasticity of demand,
Income elasticity of demand formula,
How does ied determine if a good ...
14
cards
Chapter 7: Taxes - Introduction, excise tax + incidence
Why do we tax 4,
How much do we tax 2,
How is income redistributed
18
cards
Chapter 7: Taxes - Rates and Revenue
What is revenue for a firm denote...,
What is revenue for a tax denoted by,
What is a tax rate
7
cards
Chapter 7: Taxes - Consumer and Producer Surplus + Elasticity
A tax would ____ reduce increase ...,
A tax creates government revenue ...,
Why does tax create deadweight loss
12
cards
Chapter 7: Taxes - Tax Fairness and Efficiency
What two principles determine tax...,
What is the benefit principle of ...,
What is the ability to pay princi...
24
cards
Chapter 11: Firm Behaviour - Efficiency Production + Short Run Production
What is a production function,
What is technological efficiency,
How can we achieve an economicall...
23
cards
Chapter 11: Firm Behaviour - Short Run Costs
What are total fixed costs 2,
What are some examples of total f...,
What are total variable costs
22
cards
Chapter 11: Firm Behaviour - Long Run Production Costs
What would long run production co...,
For each k we can find the l that...,
What is the lratc curve
6
cards
Chapter 11: Firm Behaviour - Economies and Diseconomies of Scale
What are the three scales for lon...,
What is increasing returns to scale,
What is constant returns to scale
16
cards
Chapter 12: Perfect Competition
Markets sellers can be part of on...,
What is a pure monopoly,
Why can t other firms enter the i...
24
cards
More about
ECON1010
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Angela Maglalang's ECON1010 flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
ECON 1010
- 2 decks
- 263 flashcards
- 509 learners
Decks:
Final Exam Assignments, Final Exam Exams, And more!
E1010
- 22 decks
- 752 flashcards
- 1 learners
Decks:
Chapter 5 Are Your Smart Choices Smart F, Chapter 5 Mcq, Chapter 6a Gdp Economic Growth Business, And more!
ECON1010
- 4 decks
- 72 flashcards
- 6 learners
Decks:
Thinking Like An Economist I, Thinking Like An Economist Ii, Demand And Supply I, And more!
