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By:
Sam Heron
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Decks in this class (22)
1.1 Social Science
What is a model 1,
What are assumptions 2,
What is ceteris paribus 3
3
cards
1.2 Positive & Normative Statements
What are positive statements 1,
Positive statement example 2,
What are normative statements 3
4
cards
1.3 The Economic Problem
What is the economic problem 1,
What does the economic problem le...,
Main factors of production 3
4
cards
1.4 Production Possibility Frontiers
What is a ppf 1,
Why is the curve concave 2,
What does a micro ppf look at 3
10
cards
1.5 Specialisation & Division of Labour
What is specialisation 1,
Advantages of specialisation 2,
Disadvantages of specialisation 3
8
cards
1.6 Free market, Mixed and Command Systems
What is a free market 1,
What is a mixed economy 2,
What is a command economy 3
6
cards
2.1 Rational Decision Making
What to rational consumers do 1,
Assumptions of the rational choic...,
Rational rule mb mc 3
4
cards
2.2 Demand
What is demand 1,
What is effective demand 2,
What is derived demand 3
8
cards
2.3 Price, Income and Cross Elasticities of Demand
What is ped 1,
Ped formula 2,
Factors affecting ped 3
15
cards
2.4 Supply
What is supply 1,
Basic law of supply 2,
Why is the supply curve upward sl...
4
cards
2.5 Elasticity of Supply
What is pes 1,
Pes formula 2,
Factors affecting pes 3
3
cards
2.6 Price Determination
What is market equilibrium 1,
What is market demand supply 2,
What is market disequilibrium 3
3
cards
2.7 Price Mechanism
What are the functions 1,
What is the price mechanism 2,
What is the signalling function 3
6
cards
2.8 Consumer & Producer Surplus
What is consumer surplus 1,
What is producer surplus 2,
Where is consumer surplus on a su...
8
cards
2.9 Indirect Taxes and Subsidies
What is a specific tax 1,
What is an ad valorem tax 2,
What is an indirect tax 3
10
cards
2.10 Alternative views of Consumer behaviour
Assumptions of rational behaviour 1,
Alternative behaviours 2
2
cards
3.1 Types of Market Failure
What is market failure 1,
What is partial market failure 2,
What is complete market failure 3
5
cards
3.2 Externalities
What kinds of externalities are t...,
What are externalities 2,
How to calculate externalities 3
9
cards
3.3 Public Goods
What are public goods 1,
What are private goods 2,
What are quasi public goods 3
8
cards
3.4 Information Gaps
What is information failure 1,
Causes of info failure 2,
What are information gaps 3
8
cards
4.1 Government Intervention in Markets
Blank 1,
Benefits of an indirect tax 2,
Drawbacks of an indirect tax 3
28
cards
4.2 Government Failure
What is government failure 1,
Causes of failure 2,
Examples of unintended consequenc...
5
cards
More about
Economics Theme 1
- Class purpose General learning
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