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4.1 Individuals, Firms, Markets and Market Failure

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

By: Tom Williams
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Decks in this class (10)

4.1.1 Economic Methodology
What is a social science,
What is a positive statement,
What is normative statement
11  cards
4.1.2 Individual economic decision making
0  cards
4.1.3 Price determination in a competitive market
What is demand,
What is derived demand,
What is composite demand
11  cards
4.1.4 Production Costs and Revenue
0  cards
4.1.5 Perfect competition, imperfectly competitive markets and monopoly
0  cards
4.1.6 The labour market
0  cards
4.1.7 The distribution of income and wealth: poverty and inequality
0  cards
4.1.8 The market mechanism, market failure and government intervention in markets
What is market failure,
Why aren t public goods provided ...,
What are the two classifications ...
22  cards
Micro Diagrams
0  cards
Subject Specific Vocabulary
Key definitions and subject vocab for micro
163  cards

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4.1 Individuals, Firms, Markets and Market Failure

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