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Economics

This class was created by Brainscape user Anna-Rose Thomas. Visit their profile to learn more about the creator.

By: Anna-Rose Thomas
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Decks in this class (15)

Production, Costs and Revenue
What is production 1,
What does the short run productio...,
What does the long run production...
62  cards
How the economy works - C10
What is national income 1,
What is real national income 2,
What is nominal national income 3
56  cards
Definitions for C4 test
What are fixed costs 1,
What is an example of a fixed cost 2,
What are variable costs 3
16  cards
Profit work for test
What is profit 1,
What is profit maximisation 2,
What is total profit 3
14  cards
8.1 - Markets and allocation of resources, 8.2 - market failure
What is the signalling function o...,
What are the 4 functions of prices 2,
What is an example for the signal...
28  cards
8.3 - Private goods, public goods and quasi-public goods
What is a private good 1,
What is excludable good 2,
What is an example of an excludab...
18  cards
8.5 - Merit and Demerit goods
What is a merit good 1,
What is an example of a merit good 2,
What are the characteristics of a...
33  cards
8.6 - market imperfections
What is the effect of imperfect a...,
What type of market is prone to a...,
Why does the existence of a monop...
5  cards
8.4 - Positive and negative externalities in production and consumption
What is an externality 1,
What is a positive externality 2,
What is a negative externality 3
22  cards
3.1 - The determinants of demand
Define market 1,
What is demand 2,
What is supply 3
27  cards
3.3 - supply of goods/services
What is market supply 1,
What is profit 2,
What is total revenue 3
15  cards
3.4 - PES
What is the price elasticity of s...,
What is the formula for pes 2,
What are the factors affecting th...
15  cards
3.6 - interrelationship between markets
What is joint supply 1,
What is an example of joint supply 2,
What do the diagrams look like fo...
10  cards
3.5 - the determination of equilibrium market prices
What is equilibrium 1,
What is market disequilibrium 2,
Where is excess supply located on...
11  cards
8.9 - government intervention in markets
What are the main reasons against...,
What are the main reasons for gov...,
How can the government correct ma...
30  cards

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Economics

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