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Economics Theme One

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

By: Armaan Dass
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Decks in this class (9)

1.1.1 Economics as a social science (ceteris paribus)
What is ceteris paribus,
What are some examples of ceteris...,
When do you not use the ceteris p...
4  cards
1.1.2 Positive and Normative economic statements
What are positive statements eg a...,
What are normative statements eg ...,
What is the role of values judgem...
3  cards
1.1.3 The Basic Economic Problem
What is the basic economic problem,
What is an economy,
What is the problem of scarcity
12  cards
1.1.4 Production possibility frontiers
What is a production possibility ...,
Features of production possibilit...,
Features of production possibilit...
15  cards
1.1.5 Specialisation and the division of labour
What is specialisation,
What are the types of specialisation,
What does specialisation lead to
13  cards
1.1.5 Functions of Money
What are the main functions of money,
What are the characteristics of m...,
What are the forms of money in a ...
6  cards
1.1.6 Free market economies, mixed economy and command economy
What is a free market economy,
What is a mixed economy,
What is a command economy
3  cards
1.2.1 Rational Decision Making
What is rational decision making,
What is the rational choice theory,
What is behavioural economics
15  cards
1.2.2 Diminishing Marginal Utility
What is utility,
What is marginal utility,
What is the law of diminishing ma...
7  cards

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Economics Theme One

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