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Microeconomics Year 1

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

By: zahranur tasyurdu
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Decks in this class (11)

Lesson 2 - What Is Economics?
What is economics and what is it ...,
How is economics a social science,
Define ceteris paribus
14  cards
Lesson 3 - Choice, Scarcity And Opportunity Cost
What is the economic problem,
What is a shortage,
What is an incentive
11  cards
Lesson 4 - Economic Resources
What are the 4 factors of product...,
Name and explain the 2 types of l...,
What is the labour supply affecte...
4  cards
Lesson 5 - Production Possibility Curves
What does the ppc show,
Define efficiency,
What are the 3 types of efficiency
7  cards
Lesson 6 - The Allocation Of Resources
Describe the free market,
Why is allocative efficiency impo...,
What is the definition of a market
22  cards
Lesson 7 - Demand And Supply
What is consumer surplus,
What is producer surplus,
What factors cause a shift in demand
7  cards
Lesson 8 - Market Equilibrium
What happens in a market when the...,
What is equilibrium,
What is disequilibrium
6  cards
Lesson 9 - Price Elasticity Of Demand
What is elastic demand,
What is inelastic demand,
What is the price elasticity of d...
14  cards
Lesson 10 - Income And Elasticities
What is the income elasticity of ...,
What is the equation for yed,
Negative yed
8  cards
Lesson 11 - Cross Elasticity Of Demand
What is the cross elasticity of d...,
What does a positive cross elasti...,
What does a negative cross elasti...
10  cards
Lesson 12 - Price Elasticity Of Supply
0  cards

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Microeconomics Year 1

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