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caleb addo
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Decks in this class (16)
the nature of the economic problem
What is the economic problem,
What are the tree main economic a...,
What is the private sector
6
cards
the factors of production
What do the factors of production...,
What are the factors of production,
What is land
13
cards
opportunity cost
What is opportunity cost
1
cards
production possibility curve
What is the production possibilit...,
Why is the ppc curved,
What does a country have to do to...
3
cards
microeconomics and macroeconomics
What is microeconomics
1
cards
the role of markets in allocation of resources
What is a market system,
What is market equilibrium,
What is market disequilibrium
3
cards
demand
What is demand,
What is the law of demand,
State all the determinants of demand
8
cards
supply
What is supply,
What is the law of supply,
State all the nonprice factors of...
7
cards
price determination
What is a shortage,
What is excess
2
cards
price elasticity of demand
What is ped,
What is the equation of ped,
What is price inelastic
9
cards
price elasticity of supply
What is the equation of price ela...,
What is the purpose of pes,
What is price elastic
7
cards
market economy system
What is an economic system,
What is a planned economy,
What is a market economy
4
cards
market failure
What is market failure,
What is private cost,
What is external cost
10
cards
mixed economic system
What are maximum prices,
What are minimum prices,
What are the government responses...
10
cards
money
What is money,
What are the functions of money,
What are the characteristics of m...
8
cards
households
What is disposable income,
What is interest,
What are the determinants of spen...
5
cards
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economics
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