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economics slotnick theme 1 - 1.1 to 1.2 sections

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

By: Ridoy MQ
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Decks in this class (13)

1.1 - PPF etc
What is difference between positi...,
What is the basic economic problem,
What is ppf stand for
15  cards
1.2 rational decision making
What is the underlying assumption...,
What does maximisation mean,
How do households try to maximise
18  cards
1.2 DEMAND
What is a normal good,
Whats rational choice theory,
What is demand
22  cards
supply
Define supply in micro terms,
What are the 6 bdeterminants of s...,
How does technologies determine s...
11  cards
Price determination
What is market clearing price,
If prices rised what would happen...,
What do market forces do
6  cards
price elasticity of demand
What does elasticity theory do,
What does elastic coefficient mea...,
Define price elasticity of demand
10  cards
Income elasticity of demand
What is yed,
Formula for yed,
Whats yed stand for
10  cards
cross elasticity of demand
What is xed,
Formula for xed,
What does xed stand for
15  cards
elasticity of supply
What is price elasticity of supply,
What does pes stand for,
Pes formula
7  cards
price mechanism
What is the method of price mecha...,
Why does the rationing function o...,
Why does the signalling function ...
8  cards
consumer and producer surplus
What is consumer surplus,
What is producer surplus
2  cards
indirect taxes and subsidies
What is indirect tax,
What is direct tax,
What is incidence or burden tax
6  cards
alternative views of human behaviour
What is behavioural economic,
What is bounded rationality,
What are social norms
9  cards

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economics slotnick theme 1 - 1.1 to 1.2 sections

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