Micro Diagrams Flashcards

(69 cards)

1
Q

Movements along a PPC

A
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2
Q

Shifts of a ppc

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3
Q

usefulness of opportunity cost using a PPC

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4
Q

The relationship between price and quantity demanded

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5
Q

individual and market demand

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6
Q

Movements along the demand curve

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7
Q

Shifts of the demand curve

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8
Q

The relationship between price and quantity supplied

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9
Q

Individual and market supply

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10
Q

Joint and competitive supply

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11
Q

Movement along the supply curve

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12
Q

shifts of the supply curve

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13
Q

consumer surplus

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14
Q

Effects of change changes in price on consumer surplus

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15
Q

Producer surplus

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16
Q

The effects of changes in price on producer surplus

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17
Q

The interaction of demand and supply

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18
Q

market equilibrium and disequilibrium

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19
Q

different values of ped

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20
Q

relationship between PED and a firms total revenue

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21
Q

different values of YED

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22
Q

different values of XED

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23
Q

Different values of PES

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24
Q

different values of XED

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25
Negative production externality
26
positive production externality
27
Negative consumption externality
28
Positive consumption externality
29
Market failure caused by information failure
30
Government intervention: taxation
31
Government intervention: subsidies
32
Government intervention: minimum price
33
Government intervention: maximum price
34
Government intervention: buffer stock systems
35
Government intervention: legislation and regulation
36
Government intervention: tradebale pollution permits
37
Government intervention: information provision
38
Law of diminishing returns
39
Short run average marginal cost
40
Internal economies of scale
41
External economies of scale
42
diseconomies of scale
43
Minimum efficiency scale
44
Total revenue imperfect market
45
Average marginal revenue imperfect market
46
Average and marginal avenue perfect market
47
Profit maximisation
48
Sales revenue objective
49
short run perfect competition- super normal profit
50
short run perfect competition- loss
51
Long run perfect competition
52
allocative efficiency in the short run
53
productive efficiency long run perfect competition
54
Monopoly diagram
55
Price discrimination diagram
56
Natural Monopoly
57
short run monopolistic- super normal profit
58
short run monopolistic- loss
59
Long run monopolistic
60
Kinked demand curve
61
Contestable market
62
Marginal revenue product theory
63
supplycurve labour in an occupation
64
Economic rent and transfer earnings
65
backwards bending supply curve
66
Labour market equilibrium and shifts
67
Monopsony
68
Trade union
69
Bilateral monopoly