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Final Micro

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

By: Verity Russell
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Decks in this class (21)

Minimum Price Schemes
Why are minimum price schemes imp...,
What affects whether the minimum ...,
What are bad things about minimum...
3  cards
Maximum Price Schemes
Why are maximum price schemes imp...,
What are the disadvantages of max...,
What affects whether a maximum pr...
3  cards
Government failure
What are the four types of govern...,
Define government failure,
How are admin costs a type of gov...
3  cards
Externalities
Positive externalities order,
Negative production externality o...,
Axis
5  cards
Economics Systems and Thinkers
Pros of free market,
Pros of command economy,
Cons of free market
7  cards
Privatisation
What is privatisation,
Why would government pursue priva...,
Advantages of privatisation
5  cards
Contestability
What is a contestable market,
What characteristics make a threa...,
How has technology increased cont...
7  cards
Information Gaps
What are the two types of informa...,
Define incomplete information,
Define asymmetric information
5  cards
Consumer/Producer Surplus
Define consumer surplus,
Define producer surplus
2  cards
Competition Policy
What is the aim of competition po...,
How can organisations like the cm...
2  cards
Competition Policy - Monopoly (/Monopsony)
What are the different ways compe...,
Price regulation,
Price regulation eval
7  cards
YED
What is yed,
What is the yed for inferior goods,
What is the yed for normal goods
5  cards
Monopolistic Competition
Characteristics of monopolistic m...,
Graph in short run,
Graph in long run
7  cards
Labour Markets
What factors affected led,
What factors affect les
2  cards
Rational Decision Making
What are the four things that lea...
1  cards
Deregulation
Define deregulation,
Advantages of deregulation,
Disadvantages of deregulation
4  cards
Nationalisation
Nationalisation definition,
Arguments for nationalisation,
Arguments against nationalisation
4  cards
PPF
Define ppf
1  cards
Factors that Influence PES
What are the factors that influen...
1  cards
Concentration and Competition
What is the relationship between ...
1  cards
Oligopoly Competition
Price strategies,
Non price strategies
2  cards

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Final Micro

  • Class purpose General learning

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