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Microeconomics
> Types of economy > Flashcards
Types of economy Flashcards
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Microeconomics
(19 decks)
The economic problem
Production possibility frontiers
Types of economy
Key words
Rational decision making
Demand
Price elasticity of demand
Income and cross elasticities
Supply
Price determination
Indirect taxes and subsidies
Alternative view of consumer behaviour
The price mechanism
Types of market failure
Externalities
Information gaps
Public and merit goods
Government intervention in markets
Government failure
