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micro economics

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

By: Elizabeth Meeks
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Decks in this class (13)

theme 1
What type of science is economics,
What is a positive statement,
What is a normative statement
15  cards
theme 2
Before making decisions what do f...,
What so consumers want from brands,
What do firms aim to do
33  cards
DEMAND
What is joint demand,
What is competitive demand,
What is derived demand
15  cards
SUPPLY
What is supply,
What is a firm,
What are the four forms firms can...
49  cards
1 10.10
What is a discretionary income,
What is a disposable income,
What is a substitute good
12  cards
consumer and producer surplus
Which part of a graph shows consu...,
Which part of a graph shows consu...,
What effect do higher supply cost...
13  cards
market equilibrium
What is market equilibrium,
What is excess supply,
What is excess demand
8  cards
economic systems
What are the three main economic ...,
What is an economic system,
What is the market mechanism
5  cards
the specialisation and division of labour
What is the division of labour,
What are 3 reasons that the divis...,
What are the advantages of divisi...
24  cards
price mechanism
What is the price mechanism,
What is allocation,
What is rationing
8  cards
Key economic thinkers
Who are the three main economic t...,
Which market did karl marx support,
What were karl marx s main beliefs
7  cards
Price Elasticity of Demand
What does ped stand for,
What is the ped,
What is the equation for ped
26  cards
Price elasticity of supply
What is price elasticity of supply,
What is price elasticity of suppl...,
What is the abbreviation of price...
21  cards

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micro economics

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