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micro economics

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

By: Feranmi Agbetuyi
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Decks in this class (13)

positive and normative statements
What are positive statements 1,
What are normative statements 2,
What is the role of value judgeme...
4  cards
the economic problem
What is the ecoomic problem 1,
What are capital goods 2,
List the four factors of producton 3
4  cards
Production Possibility Frontiers
use basic knowledge understanding
9  cards
price, income and cross elasticities of demand
understanding of all mentioned know how to use formulas
5  cards
PRICE ELASTICITY OF SUPPLY
What is pes 1,
When a pes is bigger than 1 what ...,
When our pes is between 1and 3
24  cards
specialisatiion and the division of labour
What is specialisation 1,
What is division of labour 2,
Advanatages of specialisation 3
4  cards
price determination
What is equilibrium 1,
What is excess supply 2,
What is excess demand 3
5  cards
tax
Direct tax 1,
What are the two types of indirec...,
What is a specific tax 3
5  cards
rational decision making
How to calculate profit 1,
What are the two assumptions of r...,
Rational decision making for cons...
11  cards
negative externalities
What are negative externalities 1,
Write the definition of private c...,
Write the definition of tradable ...
7  cards
positive externalities
What are positive externalities 1,
What is the supply curve equal to 2,
What is our demand curve equal to 3
11  cards
information gaps
What are information gaps 1,
Why it matters 2,
Assymetric information 3
8  cards
carbon tax and tradable permits.
Blank 1
1  cards

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micro economics

  • Class purpose General learning

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