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

Decks in this class (29)

Price of complement decreases,
Price of substitute increases,
Income increases normal good
22  cards
Theory of supply,
Why is the supply curve upwards s...,
What does the increased price act as
21  cards
Market Equilibrium for Demand and Supply
Price ceiling,
How does a price ceiling affect m...,
Price floor
11  cards
What change leads to what change,
Percentage change price
29  cards
Income elasticity of demand,
Yed equation,
What type of answer do you get fo...
30  cards
Tax Incidence
Direct tax,
How are direct taxes paid to gove...,
Can direct taxes be adjusted
55  cards
Why might subsidies be implemented,
Deadweight welfare loss
19  cards
Merit Goods, Public Goods, Demerit Goods
Merit goods,
Are merit goods under or over pro...,
What is the degree of government ...
21  cards
Social optimum,
17  cards
Asymmetric Information
Asymmetric information,
Examples of asymmetric information,
Solutions to asymmetric information
3  cards
Theory of the Firm
Long run average total cost graph,
What are the five different types...,
Managerial economies of scale
24  cards
Perfect Competition
Short run close down level of out...,
Market characteristics perfect co...,
Graph connecting supply and deman...
6  cards
Show on the graph break even poin...,
Assumption monopoly
10  cards
Price discrimination
Price discrimination,
Examples of price discrimination,
What are the necessary conditions...
18  cards
Monopolistic Competition
Monopolistic competition,
Monopolist competition assumptions,
How do firms product differentiate
12  cards
Oligopoly assumptions number of f...,
What are the strategies used by m...
15  cards
National Income
Gdp equation expenditure method,
What occurs at market equilibrium,
Standard of living equation
7  cards
What are the limitations to the c...,
When is inflation good,
19  cards
Unemployment rate,
Unemployment rate equation
35  cards
Aggregate demand,
Aggregate supply,
Keynesian vs neoclassical aggrega...
17  cards
Tax Systems
Proportional tax,
Proportional tax burden,
Regressive tax
15  cards
Economic Growth
Economic growth,
Business cycle,
5  cards
What is the big tradeoff in equity,
5  cards
Macroeconomic Policies
Fiscal policy,
Automatic fiscal policy economic ...,
Automatic fiscal policy recession
27  cards
Trade Agreements
World trade organisatoin,
What are the aims of the wto,
Which functions does the wto perform
16  cards
Comparative and Absolute Advantage
What are the benefits of internat...,
Absolute advantage,
Comparative advantage
8  cards
Arguments for protectionism,
Infant industries,
10  cards
Exchange Rates
Actors in the foreign exchange ma...,
Foreign exchange market,
Floating exchange rate
38  cards
Development Economics
Growth diagram with and without d...,
Poverty cycle diagram,
Dependency ratio
46  cards

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ib economics

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