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nooran halawa
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Decks in this class (16)
factors of production
Labour 1,
Land 2,
Capital 3
4
cards
different types of economies
Opportunity cost 1,
Private sector s aim 2,
Public sector s aim 3
6
cards
demand and supply D
Demand 1,
2 requirements to speak of demand 2,
Due to inverse negative relations...
6
cards
non price determinants of demand
Ripen 1,
There are 2 types of goods 2,
Normal goods 3
5
cards
related products
Related products are either a or a 1,
Complements 2,
For complements a change in the p...
5
cards
demand and supply S
Supply 1,
There is a positive relationship ...,
2 reasons for the positive relati...
6
cards
non price determinants of supply
Non price determinants are 1,
2 types of supply 2,
Competitive supply 3
10
cards
market equilibrium
Market equilibrium 1,
Market disequilibrium 2,
It is inefficient to have market ...
5
cards
price mechanism
Price mechanism 1,
Owing to limited resources consum...,
2 main functions of price mechani...
13
cards
allocative efficiency
Allocative efficiency 1,
Marginal cost 2
2
cards
elasticity of demand
Elasticity of demand 1,
Consumer s real income 2,
Price elastic demand 3
12
cards
price discrimination
Price discrimination 1,
Surge pricing 2,
When consumers pay more of a tax ...
3
cards
income elasticity
Yed 1,
Equation for yed 2,
Income elastic demand luxury prod...
4
cards
elasticity of supply
Pes 1,
Price elastic supply 2,
Price inelastic supply 3
9
cards
government intervention
Main reasons for government inter...,
Tax revenue 2,
Business development loans 3
8
cards
forms of government intervention
Price controls 1,
Price ceiling 2,
Price floor 3
13
cards
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economics
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