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Microconomics
> 2.1 Introduction to Competitive Markets > Flashcards
2.1 Introduction to Competitive Markets Flashcards
Microconomics
(17 decks)
1.1 What is Economics
1.2 How do economists approach the world
2.1 Introduction to Competitive Markets
2.2 Demand
2.3 Supply
2.4 Competitive market equilibrium
2.5 The role of price mechanism and market efficiency
2.6 Critique of maximising behaviour of consumers and producers (HL)
3.1 Price elasticity of demand (PED)
3.2 Income Elasticity of Demand (YED)
3.3 Price Elasticity of Supply (PES)
2.7 Government Intervention in Markets
Price Controls
Subsidies
Taxes
Government intervention - other examples
2.8 Market Failure
