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Emily Sagolj
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Decks in this class (16)
WEEK 1 - Chapter 1: 10 Lessons From Economics
Where does the word economy come ...,
How are households and economies ...,
Why is the management of society ...
47
cards
WEEK 1 - Chapter 2: Thinking Like An Economist
Economic models,
What are examples of models,
What is a circular flow diagram
15
cards
WEEK 1 - Chapter 3: Interdependance and the Gains from Trade
What is gains from trade,
What is absolute advantage,
Opportunity cost and comparative ...
18
cards
WEEK 2 - Chapter 4: The Market Forces of Supply and Demand
What do the terms supply and dema...,
What is a market,
What is competition
50
cards
WEEK 3 - Chapter 5: Elasticity and its Application
Why is elasticity,
What is the price elasticity of d...,
What does the price elasticity of...
27
cards
WEEK 4 - Chapter 6: Supply, Demand and Government Policies
Control on prices,
What is a price ceiling,
What is a price floor
31
cards
WEEK 4 - Chapter 7: Consumers, Producers and the Efficiency of Markets
What is welfare economics,
What is willingness to pay,
What is consumer surplus
14
cards
WEEK 4 - Chapter 8: Application - The Costs Of Taxation
What is deadweight loss,
The determinants of deadweight loss,
How deadweight loss and
6
cards
WEEK 9 - Chapter 10: Externalities
What is an externality,
What is market failure,
What is government failure
34
cards
WEEK 5 - Chapter 13: The Costs of Production
What is a firm s objective,
What is profit,
What is total revenue and total cost
34
cards
WEEK 6 - Chapter 14: Firms in Competitive Markets
Recall,
The meaning of competition,
What is a price taker
20
cards
WEEK 6 - Chapter 15: Monopoly
What is a monopoly,
What are the 3 main sources of ba...,
Monopoly resources
27
cards
WEEK 7 - Chapter 16: Monopolistic Competition
What is an oligopoly,
Monopolistic competition,
Examples of monopolistic competition
20
cards
WEEK 8 - Chapter 17: Oligopoly and Business Strategy
What is game theory,
Markets with only a few sellers,
Characteristics of an oligopoly m...
22
cards
WEEK 4 - Chapter 9: International Trade (Application)
What is the world price,
What is an import quota,
Quota stuff
5
cards
WEEK 10 - Chapter 11: Public Goods and Common Resources
In thinking about the various goo...,
Different types of goods,
What is excludable
29
cards
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