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Aarnav Suresh
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Decks in this class (29)
Scarcity, choice and opportunity cost chapter 1
Fundamental economic problem 1,
Resources 2,
Wants 3
13
cards
economic methodology chapter 2
Macroeconomics 3 points 1,
Microeconomies 2 marks 2,
Economics 1 point 3
13
cards
factors of production chapter 3
Entrepreneur 1,
Factors of production 3 points 2,
Land 3 marks 3
21
cards
Resource allocation in different economic systems chapter 4
Middle income economies 2 points 1,
Economic system 2 points 2,
Market economy 4 points 3
17
cards
Production possibility curves chapter 5
Production possibility curve 4 1,
How the production possibility cu...,
The production possibility curve ...
12
cards
classification of goods and services chapter6
Three groups that economists clas...,
Excludability 2,
Rivalry 3
19
cards
demand supply curves chapter 7
Price mechanism 1,
Consumers 2,
Market 3
49
cards
price elasticity, income elasticity and cross elasticity of demand chapter 8
Elasticity 1,
Elastic 2,
Inelastic 3
36
cards
the interaction of demand and supply chapter 10
Equilibrium 1,
Disequilibrium 2,
Equilibrium price 3
32
cards
price elasticity of supply chapter 9
Price elasticity of supply pes 1,
Price elastic supply 2,
Price inelastic supply 3
20
cards
consumer and producer surplus chapter 11
Consumer surplus 1,
How does a price fall affect dema...,
How does a rise in price affect d...
8
cards
reasons for government intervention in markets chapter 12
Market failure 1,
What is the ideal situation of th...,
When does market failure occur 3
14
cards
methods and effects of government intervention in markets chapter 13
Types of indirect tax 1,
Ad valorem tax 2,
Specific tax 3
47
cards
addressing income and wealth inequality chapter 14
Wealth 1,
Income 2,
Forms of income 3
28
cards
national income statistics chapter 15
National income 1,
National income statistics 2,
Why does a government measure a c...
41
cards
introduction to the circular flow of income chapter 16
What does circular flow of income...,
Open economy 2,
Closed economy 3
16
cards
aggregate demand and aggregate supply analysis chapter 17
Aggregate demand ad 1,
What does aggregate demand descri...,
Factors of aggregate demand 3
84
cards
economic growth chapter 18
Economic development 1,
What does economic growth indicate 2,
Economic growth 3
40
cards
unemployment chapter 19
Unemployment 1,
Homemakers 2,
Economically inactive 3
67
cards
price stability chapter 20
Price stability 1,
Inflation rate 2,
Inflation 3
78
cards
government macroeconomic policy objectives chapter 21
Inflation target 1,
Reasons why a government would no...,
What inflation rates do central b...
10
cards
fiscal policy chapter 22
Fiscal policy 1,
Budget 2,
Budget surplus 3
83
cards
monetary policy chapter 23
Central bank 1,
Commercial banks 2,
Monetary policy 3
35
cards
Supply side policy chapter 24
Infrastructure 1,
Supply side policy 2,
How do governments use supply sid...
25
cards
the reasons for international trade chapter 25
Factor endowment 1,
Absolute advantage used in the co...,
Why does international trade take...
36
cards
protectionism chapter 26
Protectionism in international tr...,
Tools of protection and impact 2,
Tariffs custom duties 3
52
cards
current account of the balance of payments chapter 27
Dividend payments 1,
Exchange rate 2,
Balance of payments account 3
44
cards
exchange rates chapter 28
Foreign exchange rate 1,
Foreign exchange market 2,
What determines the price of the ...
26
cards
policies to correct imbalances in the current account of the balance of payments chapter 29
How does a country not get into i...,
Why may governments welcome more ...,
Why may government encourage a su...
22
cards
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