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nooran halawa
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Decks in this class (16)
factors of production
Labour human resources like physi...,
Land,
Capital
4
cards
different types of economies
Opportunity cost,
Private sector s aim,
Public sector s aim
6
cards
demand and supply D
Demand,
2 requirements to speak of demand,
Due to inverse negative relations...
6
cards
non price determinants of demand
Ripen,
There are 2 types of goods,
Normal goods
5
cards
related products
Related products are either a or a,
Complements,
For complements a change in the p...
5
cards
demand and supply S
Supply,
There is a positive relationship ...,
2 reasons for the positive relati...
6
cards
non price determinants of supply
Non price determinants are,
2 types of supply,
Competitive supply
10
cards
market equilibrium
Market equilibrium,
Market disequilibrium,
It is inefficient to have market ...
5
cards
price mechanism
Price mechanism,
Owing to limited resources consum...,
2 main functions of price mechanism
13
cards
allocative efficiency
Allocative efficiency,
Marginal cost
2
cards
elasticity of demand
Elasticity of demand,
Consumer s real income,
Price elastic demand
12
cards
price discrimination
Price discrimination,
Surge pricing,
When consumers pay more of a tax ...
3
cards
income elasticity
Yed,
Equation for yed,
Income elastic demand
4
cards
elasticity of supply
Pes,
Price elastic supply,
Price inelastic supply
9
cards
government intervention
Main reasons for government inter...,
Tax revenue,
Business development loans
8
cards
forms of government intervention
Price controls,
Price ceiling,
Price floor
13
cards
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economics
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