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Zayd Imran
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Decks in this class (23)
L1 - The Economic Problem
What is economics 1,
What is the economy 2,
What is the difference between go...
10
cards
L2 - Economics as a Social Science
Why are models used 1,
What is the problem with models 2,
What is ceteris paribus 3
6
cards
L3 - Production Possibility Frontier
What is opportunity cost 1,
How do consumers use opportunity ...,
How do producers use opportunity ...
18
cards
L4 - Positive & Normative Economics
What are positive statements 1,
What are normative statements 2,
What words are usually used in no...
4
cards
L5 - Specialisation & Division of Labour
What is specialisation 1,
What is the division of labour 2,
What is productivity 3
19
cards
L6 - Economic Systems
What is planning government 1,
What is a market 2,
What is a price mechanism 3
24
cards
L7 - Decision Making in Economics
What is the problem with making e...,
How can assumptions of an economy...,
What is classical neoclassical ec...
13
cards
L8 - Demand
What is demand 1,
What is quantity demanded measure...,
What is the law of demand assumin...
8
cards
L9 - Supply
What is revenue 1,
What is the formula for total rev...,
What is supply 3
5
cards
LS10 - Price Determination
What is excess demand 1,
How is excess demand modelled on ...,
Why is excess demand bad 3
6
cards
LS11 - Taxes & Subsidies
What is direct tax 1,
What are examples of direct tax 2,
What is indirect tax 3
13
cards
LS12 - Price Elasticity of Demand & Supply
What does price elasticity of dem...,
What happens a product is price e...,
What happens when a product is pr...
28
cards
LS13 - Producer & Consumer Surplus
What is consumer surplus 1,
What does a higher consumer surpl...,
What is producer surplus 3
7
cards
LS14 - Diminishing Marginal Utility
What is the income effect 1,
What is marginal utility 2,
What is diminishing marginal util...
3
cards
LS15 - Cross Price & Income Elasticity of Demand
What is cross price elasticity of...,
What is the formula for cross pri...,
What does a positive xed value me...
13
cards
LS16 - Price Mechanism
What are the 3 functions of the p...,
What is signalling 2,
What is incentive 3
6
cards
LS17 - Market Failure & Externalities
What is market failure 1,
What is an external cost 2,
What is an external benefit 3
8
cards
LS18 - Public Goods
What are the characteristics of p...,
What are the characteristics of p...,
What does non rivalrous mean 3
13
cards
LS19 - Information Gaps
What are the different types of i...,
What is a perfect information gap 2,
What is a symmetric information g...
5
cards
LS20 - Max & Min Prices
What is maximum pricing 1,
What is minimum pricing 2,
What are advantages if maximum pr...
11
cards
LS21 - Tradable Pollution Permit
What does a limit cap do 1,
How does a tradable pollution per...,
What does a pollution permit do 3
6
cards
LS22 - Regulation
What is a regulation 1,
Why are regulations used 2,
What are examples of command 3
6
cards
LS23 - Government Failure
What is government failure 1,
What are the causes of government...
2
cards
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Theme 1 - Micro
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