This class was created by Brainscape user Talia Augustidis. Visit their profile to learn more about the creator.

Decks in this class (23)

What is economics?
Why does economics exist,
What is scarcity,
Give an example of a resource
122  cards
Limited Resources, Unlimited Wants
Where is scarcity true,
What is the fundamental economic ...,
What are the two implications of ...
50  cards
The Price System and Economic Problem
What does mc tell you,
What does mb tell you,
59  cards
How is mc equal to price,
Mb mc therefore,
When mb p
50  cards
How do we distinguish between dif...,
How do you measure competition,
How do you calculate accountant p...
61  cards
Price Control, Government Intervention and Unintended Consequences
What are the two reasons governme...,
What is it called,
When do the government help consu...
64  cards
Elasticity of Demand and Supply
What is the relationship between ...,
How much does qd go down when p g...,
For cigarettes if the price goes ...
107  cards
Demand and Utility
What is utility,
What two key factors determine th...,
How does the budget constraint af...
43  cards
Income Inequality
What are the sources of income in...,
How are non competing groups a so...,
How are occupational differences ...
55  cards
When is it efficient for the indi...,
What is an externality,
When is it efficient for society
55  cards
Public goods
How do you distinguish between a ...,
What is a rivalrous good,
What is an example of a rivalrous...
58  cards
Market Structure
How do economists determine types...,
What are the types of markets,
What is oligopoly
95  cards
Perfect Competition
Characteristics of perfect compet...,
If a firm in pc is a price taker ...,
What does it mean to be a price t...
21  cards
What is market power,
What constitutes a price maker,
How do you know when it is ineffi...
16  cards
Monopolistic competition
What are the assumptions of monop...,
What can you deduce from the fact...,
What is the difference between mo...
11  cards
What is an oligopoly,
Example of an oligopoly,
How can you measure oligopoly
16  cards
Price Discrimination
What is price discrimination,
What conditions must exist in ord...,
How can producers separate the ma...
21  cards
Perfect Competition
What are the assumptions of perfe...,
What is it called when no individ...,
What is it called when goods are ...
8  cards
Costs, Revenues and Profit
What is the short run,
What is often the fixed variable ...,
What is the long run
10  cards
What are the five macro goals,
What does price stability mean,
Why would they want reduction in ...
56  cards
What is a bank,
What do economies of scale allow ...,
What is the reserve rate requirement
36  cards
0  cards
What are the 5 macro economic goals,
What does price stability mean,
Why is deflation bad
191  cards

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econ higher

  • Class purpose General learning

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