Micro Economics

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

Decks in this class (18)

4.1.1
Normative statements 1,
Positive statement 2,
Define need 3
20  cards
4.1.2
Rational economic decision making 1,
Utility 2,
Rational consumption 3
24  cards
Market Structures
Dynamic efficiency 1,
X inefficency 2,
4 monopoly indicators 3
55  cards
Governemnt Failure
4 elements of market failure 1,
6x how can a government correct m...,
What is government failure 3
15  cards
Nature Of Economies
Certeris paribus 1,
Hypothesis theory method 2,
Postive statement 3
35  cards
Revinue Costs And Profit
Total revenue 1,
Eq for total revenue 2,
Ar 3
69  cards
Efficiency
Monopoly of microsoft in the 90 s 1,
What is productive efficiency 2,
When does mc ac 3
8  cards
Demand
Defintion of demand 1,
Why does demand curve slope downw...,
What does ped mean 3
27  cards
Buisness Objectives And Growth
4 influences of firms 1,
Objectives of shareholders 2,
Objectives of directors and manag...
41  cards
Supply
Elasitc pes 1,
Inelastic pes 2,
Unitary elastic supply 3
37  cards
Technology
Invention 1,
Innovation 2,
Examples of innovation 3
8  cards
Equlibrium Price Detention
Axis on graph for education 1,
Price mechanism 2,
3 functions of price mechanism 3
8  cards
Regulation & Competitve Policy
Uk authority for regulating compa...,
2 policies used by the cma 2,
Merger policy 3
28  cards
Consumer & Producer Supply
What does the marginal benefit cu...,
Surplus benifits 2,
Consumer surplus 3
5  cards
Labour Market
Mpp 1,
Mrp 2,
Does mpp or mrp d 3
34  cards
Poverty & Inequaltiy
Absolute poverty 1,
Relative poverty 2,
How many people lived in absolute...
19  cards
Market Failure & Govt Intervention
4 types of market failure 1,
Mf def 2,
Negative externalities 3
55  cards
Key Words
Supernormal profit 1,
Absolute poverty 2,
Allocative efficiency 3
232  cards

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Micro Economics

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