This class was created by Brainscape user Thomas McMahon. Visit their profile to learn more about the creator.
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Thomas McMahon
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Decks in this class (11)
Price mechanism (Signalling,Incentivising,Rationing,Allocating)
What is signalled incentivised wh...,
Explain the price mechanism diagr...,
What is signalled incentivised wh...
4
cards
Consumer and Producer surplus
What is consumer surplus 1,
What is producer surplus 2,
Where is consumer surplus found o...
5
cards
Interrelated markets ( complements, substitutes , Derived + Composite demand and Joint supply )
What are complement goods 1,
What are substitute goods 2,
What is derived demand 3
6
cards
Price elasticity of demand ( PED )
What is ped 1,
What is the equation for ped 2,
What does 1 elasticity mean 3
12
cards
Price elasticity of supply ( PES )
What is pes 1,
What is the equation for pes 2,
What does pes mean 3
9
cards
Cross elasticity of demand ( XED )
What is xed 1,
What is the equation for xed 2,
What does a xed value mean 3
8
cards
Income elasticity of demand ( YED )
What is yed 1,
What is the equation for yed 2,
What does a yed value mean 3
7
cards
Indirect taxes
What are the reasons for indirect...,
What is an indirect tax 2,
What is a direct tax 3
7
cards
Negative externalities
What are negative externalities o...,
What are some examples of negativ...,
How would i draw a negative produ...
5
cards
Positive externalities
What is a positive externality of...,
How would i draw a positive exter...,
What are positive externality of ...
5
cards
Merit and Demerit goods
What is a merit good 1,
Explain why merit goods are not p...,
What is a demerit good 3
4
cards
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