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Economic Principles

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

By: Elise Marshall
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Decks in this class (19)

Thinking Like An Economist
10 principles of econ how people ...,
What are the 3 sections of the 10...,
10 principles of econ how people ...
8  cards
Supply And Demand
What is the income effect,
What are the determinants of demand,
What is the substitution effect
6  cards
Elasticity
Inelasticity,
Ped,
Elasticity
10  cards
Theory Of Consumer Choice
What are the assumptions of the s...,
Standard economic model,
What is the budget constraint
22  cards
Competitive Markets
What are implicit costs,
What are explicit costs,
What is the short run
31  cards
Consumers, Producesrs And The Efficient Of Markets
What is allocative efficiency,
What is well being,
Definition of cost
9  cards
Supply, Demand And Gov Policies
Price floor,
Price ceiling,
Direct taxes
7  cards
The Tax System And The Costs Of Taxation
Deadweight loss and tax s inelastic,
Deadweight loss,
Deadweight loss and tax s elastic
16  cards
Public Goods, Common Resources And Merit Goods
Private sector,
Public sector,
Private goods
12  cards
Externalities And Market Failure
What is internalising an externality,
Externality,
4 types of private solutions to e...
21  cards
Monopolistic Competition
Characteristics,
Monopolistic competition,
Monopolistic competitive firm in ...
7  cards
Info And Behavioural Economics
Agent,
Principal,
Asymmetric info
14  cards
Firm's Production Decisions
Marginal rate of technical substi...,
Production isoquants,
Isocost lines
3  cards
Monopoly
Monopoly,
Imperfect competition,
Barriers to entry
10  cards
Contestable Markets
Predatory or destroyer pricing,
Entry limit pricing,
Competitive advantage
4  cards
Oligopoly
Concentration ratio,
Oligopoly,
Market segments
20  cards
Labour Markets
Production function,
Derived demand,
Value of the marginal product
15  cards
Income Inequality And Poverty
Gini coefficient,
Lorenz curve,
Life cycle
14  cards
Interdependnce And Gains From Trade
Absolute adv,
Ppf,
Comparative adv
9  cards

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Economic Principles

  • Class purpose General learning

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