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Essentials Of Economics

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

By: Alice Buckland
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Decks in this class (16)

Essentials of Economics lecture 1
What is the economic problems,
What is microeconomics,
What are the resources of society
8  cards
Demand
What is the law of demand,
What is intuition income effect i...,
What is the substitution effect
12  cards
Supply
What is the law of supply,
Why does the law of supply occur,
What is the example of the farmer...
10  cards
Supply and demand
What is meant by equilibrium,
What will happen to the demand an...,
What will happen to the graph if ...
10  cards
market intervention
What is meant by government inter...,
What would happen to the supply a...,
What would happen to the supply a...
7  cards
Market intervention - Elasticity
What does elasticity measure,
How do you calculate elasticity o...,
How do you know if something is e...
12  cards
Lecture 5
What is a monopoly,
What is monopolistic competition,
What is perfect competition
9  cards
Lecture 5 - Monopoly
What are some barriers to entry,
On the graph where are max profit...,
Where is the supernormal profit area
3  cards
Monopolistic competition
What are the key features of a mo...,
What is the benefit on being able...,
In the short run what does the eq...
4  cards
Lecture 4 - Optimal production/supply
How do you calculate profit,
What is a variable cost,
What is a fixed cost
23  cards
Lecture 6A - Game theory and price discrimination
How do you work out the nash equi...,
What is first degree price discri...,
What is second degree price discr...
5  cards
Lecture 6B - Market Failure
What is meant by resource allocation,
What are the two themes of market...,
What are equity issues
10  cards
Lecture7 - Aggregate demand and the national economy
What is national output,
What is economic growth,
What is the real economic growth
13  cards
Lecture 7 - Circular flow of income
What is aggregate demand,
What are the four elements of agg...,
How do you calculate aggregate de...
9  cards
Lecture 7 - Aggregate Demand ]
What are the 4 components of aggr...,
What factors impact consumer cons...,
What is marginal prosperity to co...
10  cards
Lecture 8
What is gdp,
What is gva,
How do you calculate gdp
12  cards

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Essentials Of Economics

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