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By:
Joy Silva
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Decks in this class (10)
1. A model of the market system
What are markets described as,
Define general equilibrium,
Define exchange economy
38
cards
2. Achievement of the market system
Is there production in an exchang...,
What is the impact of productivit...,
General competitive equilibrium gce
44
cards
3. Who gets what from the market system?
Positive economics,
Normative economics,
Welfare economics
53
cards
4. Living Interdependently: public goods and externalities
Why is their government involveme...,
What determines income distributi...,
Example shocking bilal s producti...
52
cards
5. Consumer choice revisited - how does the market work when people do not know their own best interests?
The assumption of optimal rationa...,
What is behavioural economics,
Who are the key thinkers in behav...
75
cards
6. Consumer choice revisited – decision-making with risk and insurance.
Defintion of risk,
Definition of uncertainity,
The difference between risk and u...
54
cards
7. Asymmetric information
What is a market for lemons,
Blank slide 2,
State contigent income space with...
48
cards
8. How do governments behave?
What is adverse selection,
What is moral hazard,
What is asymmetric information
47
cards
9. Asymmetric information - Moral Hazard
What is moral hazard,
Give examples of moral hazrad,
Moral hazard and the principal ag...
50
cards
10.
Why is international cooperation ...,
How do we establish social order,
Define social contract hobbesian ...
43
cards
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ec2a3
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