This class was created by Brainscape user Brannon Fell. Visit their profile to learn more about the creator.
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Brannon Fell
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Decks in this class (17)
1 - Economic Methodology
Why do economic choices have to b...,
What happens if we assume people ...,
What do ppf diagrams show 3
20
cards
2- Economic Decision Making
What is behavioural economics 1,
What does bounded rationality sta...,
What are these three factors 3
32
cards
3 - Price Determination
What is a competitive market 1,
How is price determined in a comp...,
What happens when price is increa...
83
cards
4 - Production, Costs and Revenue
What is specialisation 1,
What is division of labour 2,
What did adam smith explain 3
82
cards
5 - Competitions and Monopolies
What are the main objectives of f...,
When does profit maximisation occ...,
What is marginal revenue 3
223
cards
6 - Labour Market
What is there an inverse relation...,
Which organisations employ people 2,
What happens if the wage rate is ...
79
cards
7 - Distribution of Wealth
What is equality 1,
What is equity 2,
What is income 3
54
cards
8 - Market Mechanism and Market Failure
When does market failure occur 1,
What does market failure distingu...,
What is partial market failure 3
174
cards
1 - Economic Methodology Definitions
Want 1,
Need 2,
Economic welfare 3
17
cards
2 - Economic Decision Making Definitions
Bounded rationality 1,
Bounded self control 2,
Rules of thumb 3
13
cards
3 - Price Determination Definitions
Effective demand 1,
Market demand 2,
Individual demand 3
36
cards
4 - Production, Costs and Revenue Definitions
Specialisation 1,
Division of labour 2,
Trade 3
43
cards
5 - Competitions and Monopolies Definitions
0
cards
6 - Labour Market Definitions
0
cards
7 - Distribution of Wealth Definitions
0
cards
8 - Market Mechanism and Market Failure Definitions
Market failure 1,
Complete market failure 2,
Partial market failure 3
31
cards
Example Bank
What is an example of a negative ...,
What is the annual cost to the nh...,
What is the overall cost to the t...
34
cards
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MicroEconomics
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