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Economics - First Year

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

By: Tara Dakin
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Decks in this class (10)

General Concepts of Economics
Trade offs,
Efficiency,
Equity
18  cards
Market
Define market,
Role of market,
Competitive market
21  cards
Elasticity
Elasticity,
Price elasticity of demand,
General rules for price elasticit...
20  cards
Government Welfare, Market Efficiency
Price ceiling,
Price floor,
Effects of rationing
5  cards
Tax and Tariff
Effects of tax,
Government benefit from tax,
How tax affects welfare
12  cards
Comepetitve Markets
Total revenue,
Total cost,
Profit
25  cards
Monopoly and Monolistic Competition
Monopoly firm,
Natural monopolies,
Price maker vs price taker
7  cards
Oligopoly and Business Strategy
Oligopoly,
Attributes of oligopoly,
Key lesson from oligopoly
7  cards
Market Failure: Externalities
Externalities spill overs,
Negative externalities,
Positive externalities
9  cards
Market Failure: Public Goods and Common Resources
Excludability,
Rivalry,
Pure public goods
8  cards

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Economics - First Year

  • Class purpose General learning

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