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Econ247

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

By: Lisa Mitchell
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Decks in this class (13)

Chapter 1
The word economy comes from the g...,
The management of societys resour...,
What is the definition of scarcity
34  cards
Chp 5 Elasticity
What is the definition of cross p...,
What are the other demand elastic...,
What is the definition of income ...
3  cards
principles 1 -4
What do the first 4 principles de...,
What are the 4 principles that de...,
When governement policies are des...
19  cards
principles 5-7
What do the next 3 principles 5 7...,
What is principle 5,
Why is trade with two countries a...
27  cards
principles 8 - 10
What are the last 3 principles,
What do the last 3 principles rel...,
What is principle 8
18  cards
Chapter 2: thinking like an econmists
Experiments in the science of eco...,
Why does history have an importan...,
What is the scientific method
24  cards
Chapter 2: postive and normative statements
What are positive statements,
What are normative statements,
Why do we need positive and norma...
4  cards
chapter 2: graphing basics
What are the two types of graphs ...,
What are descriptive graphs,
What are analytical graphs
5  cards
Chapter 3 : trade can make everyone better off
What is absolute advantage,
What is opportunity cost,
Information per workerfunland can...
6  cards
chapter5 notes
What is elasticity,
The concept of elasticity allows ...,
The law of demand tells us
15  cards
chaapter 6 notes
What happens at equilibrium price,
What is a price celing,
What is a price floor
13  cards
chapter 5 elasticity of supply
What is the price elasticity of s...,
Supply of a good is said to be el...,
Supply is said to be inelastic if...
12  cards
no good
0  cards

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Econ247

  • Class purpose General learning

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