This class was created by Brainscape user Honey Holmes. Visit their profile to learn more about the creator.
By:
Honey Holmes
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Decks in this class (17)
The Nature Of Economics
Certeris paribus 1,
Law 2,
Normative economics 3
33
cards
Price Elasticity Of Demand
Price elastic demand 1,
Perfectly elastic demand 2,
Price inelastic demand 3
8
cards
Demand
Conditions of demand 1,
Contraction of demand 2,
Demand curve 3
8
cards
Rationality
Economic welfare 1,
Macroeconomics 2,
Microeconomics 3
5
cards
Income And Cross Elasticity
Complement 1,
Cross elasticity 2,
Income elasticity of demand 3
6
cards
Supply
Conditions of supply 1,
Long run 2,
Price elasticity of supply 3
5
cards
Price Determination
Equilibrium price 1,
Excess demand 2,
Excess supply 3
5
cards
Types Of Economies
Command planned economy 1,
Economic system 2,
Free market economy 3
4
cards
Externalities
Consumption externalities 1,
Positive consumption externalities 2,
Marginal social and private costs...
9
cards
The Economic Problem
Basic economic problem 1,
Capital 2,
Choice 3
11
cards
Types Of Market Failure
Complete market failure 1,
Market failure 2,
Missing market 3
4
cards
Information Gaps
Asymmetric information 1,
Imperfect information 2,
Information failure gap 3
3
cards
Government Intervention In The Market
Cap and trade schemes 1,
Trade pollution permit 2
2
cards
Price Mechanism
Incentive function 1,
Rationing function 2,
Signalling function 3
3
cards
Indirect Taxes And Subsidies
Ad valoren tax 1,
Incidence of tax 2,
Specific or unit tax 3
4
cards
Tricky Vocab
Purchasing power parities 1,
Wealth 2,
Nominal gdp 3
4
cards
Test
0
cards
More about
Economics 📉
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