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Economics

This class was created by Brainscape user Katerina HOFFMANN WING. Visit their profile to learn more about the creator.

By: Katerina HOFFMANN WING
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Decks in this class (14)

Textbook Glossary
Abnormal profit,
Absolute advantage,
Absolute poverty
474  cards
Demand, supply, and elasticities
State the law of demand,
Assumptions of the law of demand,
Non price determinants of demand
56  cards
Govt. Intervention
Reasons to grant subsidies,
Effect of subsidies on consumers,
Effect of subsidies on producers
21  cards
Market failure
Formula for positive externality ...,
Solutions to positive externaliti...,
Problems with subsidizing firms f...
31  cards
Market Power
Characteristics of perfect compet...,
Characteristics of a monopoly,
Characteristics of a monopoly
28  cards
Measuring economic activity
Leakages of the circular flow of ...,
Injections of the circular flow o...,
Components of gdp
15  cards
AD & AS
Define aggregate demand,
Components of aggregate demand,
Determinants of aggregate demand ...
18  cards
Macroeconomic objectives
Consequences of economic growth,
Types of unemployment,
Causes of different types of unem...
32  cards
Inequality and Poverty
Relationship between equality and...,
Define equity,
Absolute poverty vs relative poverty
17  cards
Macroeconomic policies
Sources of government revenue,
Types og govt expenditure,
Budget surplus define
44  cards
Exchange rates + Balance of payments
Exchange rate define,
What is a floating exchange rate ...,
Currency appreciation define
42  cards
Development
Sustainable development define,
Pollution of affluence define,
Pollution of poverty define
20  cards
Paper 3: Policies
What are price ceilings and why a...,
Pros of price ceilings,
Cons of price ceilings
190  cards
Formulas
Total costs,
Total fixed costs,
Total variable costs
43  cards

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Economics

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