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Economics

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

By: Jayisal Fakira
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Decks in this class (15)

LS 1
What is an economy,
What are the factors of production,
What is capital
10  cards
LS 15- Elasticity Part 2
What is the formula for cross pri...,
What is cross price elasticity of...,
What xed values are substitutes c...
3  cards
LS 14- Diminishing Marginal Utility & Misc
What is the income effect,
What is marginal utility,
What is diminishing marginal utility
4  cards
LS 13- Consumer & Producer Surplus
What is consumer surplus,
What is producer surplus,
What is the incidence of a tax
8  cards
LS 12- Elasticity
What does price elasticity of dem...,
What is price elastic,
What is demand price inelastic
13  cards
LS 11- Taxes & Subsidies
What is an indirect tax,
What is an indirect tax,
What is a specific tax with examples
7  cards
LS 10- Price Determination
What is excess demand,
What is excess supply,
What is market equilibrium
4  cards
LS 9- Supply
What is revenue,
How do you calculate total revenue u,
What is supply
5  cards
LS 8- Demand
What does the law of demand state,
What does a decrease in price res...,
What is demand
6  cards
LS 7
What is the problem with economic...,
How can the problem about economi...,
In which schools of economics are...
12  cards
LS 6
What is a free market,
What is a mixed economy,
What is a command economy
8  cards
LS 5
What is specialisation,
What is the division of labour,
What is productivity
9  cards
LS 4
What is a positive statement,
What are objective statements,
What is a normative statement
5  cards
LS 3
What is opportunity cost,
How do consumers use opportunity ...,
How do producers use opportunity ...
12  cards
LS 2
What does economics use to explai...,
What can models be used for,
Why is it difficult for economist...
8  cards

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Economics

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