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Economics

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

By: Shaurya Madwaikar
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Decks in this class (32)

Ch.1-The basic economic problem
Resources,
The economic problem,
Scarcity
6  cards
Ch.2- Factors of Production
Factors of production,
Land,
Labour
21  cards
Ch.3- Opportunity Cost
Opportunity coat
1  cards
Ch.4- Production Possibility Curves
Production possibility curve ppc
1  cards
Ch.5-Microeconomics and Macroeconomics
Microeconomics,
Macroeconomics,
Market
5  cards
Ch.6- The role of markets in allocating resources
Economic system,
Planned economic system,
Directives
12  cards
Ch.7- Demand
Demand,
Market demand,
Aggregation
14  cards
Ch.8- Supply
Supply,
Market supply,
Extension in supply
13  cards
Ch.9- Price Determination
Equilibrium price,
Excess supply,
Disequilibrium
4  cards
Ch.11- Price Elasticity of Demand
Price elasticity of demand ped,
Elastic demand,
Inelastic demand
6  cards
Ch.12- Price elasticity of supply
Price elasticity of supply pes,
Elastic supply,
Inelastic supply
6  cards
Ch.13- Market economic system
Public sector,
State owned enterprises soes,
Privatisation
9  cards
Ch.14- Market Failure
Third parties,
Social benefits,
Social costs
14  cards
Ch.15- Mixed economic system
Mixed economic system,
Rationing,
Lottery
7  cards
Ch.16- Money and banking
Money,
Commercial banks,
Liquidity
4  cards
Ch.17-Households
Disposable income,
Wealth,
Rate of interest
7  cards
Ch.18- Workers
Earnings,
Wage rate,
National minimum wage nmw
11  cards
Ch.19- Trade unions
Trade union,
Collective bargaining,
Real income
5  cards
Ch.24-The role of the government
Local government,
Natural monopoly,
Strategic industries
6  cards
Ch.25-The macroeconomic aims of governments
Economic growth,
Actual economic growth,
Potential economic growth
11  cards
Ch.26- Fiscal Policy
Budget,
Budget deficit,
Budget surplus
17  cards
Ch.27-Monetary policy
Monetary policy,
Foreign exchange rate,
Expansionary monetary policy
4  cards
Ch.28- Supply-side policies
Supply side policy,
Deregulation
2  cards
Ch.29- Economic growth
Gross domestic product gdp,
Circular flow of income,
Value added
10  cards
Ch.30- Employment and unemployment
Employment,
Unemployment,
Flexible labour force
16  cards
Ch.31- Inflation and deflation
Deflation,
Disinflation,
Consumer prices index cpi
12  cards
Ch.32- Living standards
Human development index hdi,
Genuine progress indicator gpi,
Purchasing power parity
6  cards
Ch.33- Poverty
Absolute poverty,
Relative poverty,
Vicious circle of poverty
4  cards
Ch.34- Population
Emigration,
Birth rate,
Death rate
9  cards
Ch.35- Economic development
E,
The world bank,
The imf
3  cards
Ch.36- International specialisation
Absolute advantages,
Comparative advantage,
Tariffs
3  cards
Ch.37- Free trade and protection
Globalisation,
Quota,
Tariff
10  cards

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Economics

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