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microeconomics. the basics

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

By: Slimon Jan
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Decks in this class (14)

Economic Methodology
Why is economics seen as a social...,
What is a positive statement,
What is a normative statement
11  cards
Behavioural Economics Pt1
What is the utility theory,
What is marginal utility,
Why does utility decrease as quan...
4  cards
Behavioural Economics Pt2
What do traditional economists th...,
What are the 2 types of imperfect...,
What do traditional economists state
5  cards
Behavioural Economics Pt3
What is behavioural economics,
What are the cognitive bias facto...,
What is anchoring
10  cards
Behavioural Economics Pt4
What is useful about behavioural ...,
What does behavioural economic po...,
What is the purpose of nudge poli...
16  cards
Demand
What is demand,
Wat is the law of demand,
Why is the demand curve downward ...
5  cards
Price Elasticity of Demand
What does ped measure,
How do you calculate ped,
Why will the answer always be neg...
5  cards
Income Elasticity of Demand
What does yed measure,
How do you calculate yed,
What does it mean if yed is posit...
4  cards
Cross Elasticity of Demand
What does xed measure,
How do you calculate xed,
What does the positive or negativ...
4  cards
Supply
What is supply,
What does the law of supply state,
Why is the supply curve upwards s...
7  cards
Market Equilibrium and Interrelated Markets
What is the free market,
When does equilibrium occur and w...,
Why will disequilibrium never last
8  cards
Specialisation and Division of Labour
What is productivity,
What are the advantages to specia...,
What are the disadvantages of spe...
6  cards
Economies of scale
0  cards
Technological change
0  cards

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microeconomics. the basics

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