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

Decks in this class (13)

Glossary
Economics,
Ceteris paribus,
Rationality
26  cards
4.1.1. - Economic Methlodology And The Basic Economic Problem
Why is economics a social science,
How does economics being a social...,
What are models
28  cards
4.1.3.1- Demand
Define demand,
What is the law of demand,
3 reasons why the demand curve ha...
20  cards
4.1.3.2/4/6- PED, PES, XED, YED
Define elasticity,
Define ped,
Define pes
39  cards
4.1.3.3- Supply
Define supply,
Define the law of supply,
How to work out profit
13  cards
4.1.3.5 - Equilibrium
Define equilibrium,
Define disequilibrium,
Causal chain structure for a 9 ma...
13  cards
4.1.8.1 - How Prices And Markets Allocate Resources
Define signalling function,
Example of signalling function,
Describe rationing function
8  cards
4.1.8.2 /3 - market failure/ Public,priv Goods
If,
Define compete market failure,
Define partial market failure
15  cards
4.1.8.4 - positive and negative externalities
What is an externality,
Which externalities effect the su...,
Which externalities effect the de...
6  cards
4.1.8.5 - merit and demerit goods
What are the characteristics of a...,
What is the difference between me...,
What are the characteristics of a...
3  cards
4.1.8.6 - Market Imperfections
What are the features of a perfec...,
Why do market imperfections exist,
What is imperfect and asymmetric ...
9  cards
4.1.8.9 - Government Intervention
How do governments intervene in m...,
What are indirect taxes,
What is ad valorem tax
40  cards
4.1.8.10 - Goverment Faliure
What are the 6 reasons for govern...,
What is government failure,
How does inadequate info leave to...
8  cards

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Micro Economics

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