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igcse economics

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

By: Jack Mitchell
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Decks in this class (9)

Concept 1 : The Basic Economic Problem
What is scarcity,
What is an economic good,
What is a free good
16  cards
Concept 2 : Micro & MacroEconomics
What is macroeconomics,
What is microeconomics,
What is one example of a macroeco...
4  cards
Concepts 2 : The Role of the Market
What are the 3 main decisions a p...,
What is a planned economic system,
What is a market economic system
5  cards
Concept 2 : Demand
What is demand,
What are the 2 features of demand...,
Price and demand have what kind o...
6  cards
Concept 2 : Supply
What is supply,
Why would a company choose to mak...,
What is the relationship between ...
7  cards
Concept 2 : Price Determination
What is equilibrium,
In a situation where there is dis...,
In a situation where there is dis...
5  cards
Concept 2 : Price Changes
When there is an extension in dem...,
When there is a contraction in de...,
Where there is lower demand for a...
8  cards
Concept 2 : Price Elasticity of Demand
What is the formula for ped,
In a situation where the ped is 2...,
What does elastic demand mean
11  cards
Concept 2 : Price Elasticity of Supply
0  cards

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igcse economics

  • Class purpose General learning

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