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Jacob Meyer
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Decks in this class (23)
Chapter I "Ten principles of Economics" Terms
Where does the word economy origi...,
Society has limited resources and...,
The study of how society manages ...
15
cards
Chapter II "Thinking Like An Economist"
The economy is simplified to only...,
Land labor capitol help firms pro...,
Households are buyers and firms a...
7
cards
"Auctions" Lecture (Ch I+II)
Equation for profit 1,
When multiple firms or people com...,
Wealth of a country 3
15
cards
Chapter IV "The Market Forces of Supply and Demand"
These determine the quantity of a...,
A group of buyers and sellers of ...,
This group of people determine de...
28
cards
"Supply & Demand" Lecture (2)
Founder of modern economic philos...,
These types of markets are guided...,
Coined by adam smith guides compe...
6
cards
Lecture IV "Demand/Supply changes"
Everything s balanced supply dema...,
When price quantity of a product ...,
Later 3
8
cards
Chapter V: "Elasticiy And Its Application"
A measure of how much buyers and ...,
Measures how the quantity demande...,
The amount buyers pay and sellers...
3
cards
Ch. 7:
What is 1,
What should be 2,
The study of how the distribution...
4
cards
Lecture VI
0
cards
Lecture VII: "Econland, Pareto Efficiency"
Luxury good income elastic of ine...,
A normal necessary good income el...,
How much effort one needs to give...
6
cards
Chapter VI - Supply, Demand, And Government Policies
The two roles of economists 1,
The minimum amount that a certain...,
The maximum amount that a certain...
5
cards
Lecture 4-1: ""
The surplus gained by producers o...,
It is feasible and there is no be...,
This entity knows everyone s rese...
5
cards
Lecture 4-2
The economy is as large and effic...,
The producer and consumer equally...,
The difference between what a con...
8
cards
Lecture 4-3 Taxes, Subsidies
The two parts that the consumer l...,
What does the triangle represent ...,
What does the rectangle represent...
6
cards
Ch.8: The Burden of Taxation
The fall in total revenue when a ...,
Dead weight loss is greatest when 2,
A tax has a deadweight loss becau...
6
cards
Lec 5-1
The limit on a price is under the...,
Large effect of binding price cei...,
Result of a binding price floor 3
7
cards
Lecture 5-3 "Quotas, Cap & Trade"
Cap and trade 1,
Quota 2,
Asset values 3
3
cards
Lec. 7-1: "Carbon emissions, Int'l trade"
This is where the revenue from ge...,
Goods produced abroad and sold do...,
Goods produced domestically and s...
5
cards
Lec 7.2
A limit on the number of foreign ...,
Gov t compensates losers during t...,
Shows different production combin...
7
cards
Lec: 7-3 "Gains From Trade"
Graph of potential allocations of...,
Produce more of goods than others...,
Produce a greater amount of a goo...
8
cards
Ch. 11: The Economics Of The Public Sector
The property of a good whereby a ...,
Property of a good where one s co...,
Goods that are both excludable an...
8
cards
Chapter 13: "The Cost of Production"
The study of how firms adjust qua...,
Profit 2,
Input costs that require an outla...
6
cards
Aplia Probs (week 10(
Accounting cost 1,
Economic profit 2,
Marginal product of labor 3
3
cards
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Intro To Microeconomics
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