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Business Economics

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

By: melissa siemonek
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Decks in this class (14)

Introduction to Economics
What is the definition of economics,
What is macroeconomics,
What is microeconomics
41  cards
Consumer Choice Theory
What are consumption choices,
What are consumption possibilities,
What are consumption possibilitie...
31  cards
Theory of Demand and Supply 1.0
What is a market,
What is a competitive market,
What is opportunity cost
41  cards
Theory of Demand and Supply 2.0
How can price regulate the quanti...,
How does a shortage in supply for...,
How does a surplus force prices down
8  cards
Elasticity
In ped what happens when qd is no...,
In ped what happens when the qd i...,
How does a demand curve reflect ped
36  cards
Possibilities, Preferences and Choices
What are consumption possibilities,
What are divisible and indivisibl...,
What are affordable and unafforda...
27  cards
Organising Production
What is accounting profit,
What is economic profit,
What is the opportunity cost of p...
31  cards
Markets and the Competitive Environment
What are the four market types,
What is perfect competition,
What is monopolistic competition
19  cards
Efficiency and Equity pt 1
What are the 8 methods of allocat...,
How are resources allocated using...,
How are resources allocated using...
39  cards
Efficiency and Equity pt 2
What alternatives are available w...,
What are the two schools of thoug...,
What does its not fair if the res...
15  cards
Government Actions in Markets
What is a price ceiling,
What determines the effect of a p...,
How do price ceilings work in rea...
33  cards
Government Action in Markets pt 2
What are two examples of governme...,
What is a production quota,
What is the effect of a productio...
19  cards
Output and Costs
What are decision time frames,
What are short run decisions,
How can firms increase output in ...
37  cards
Output and Costs 2.0
Why is the atc curve u shaped,
What affect does the spreading of...,
What affect does diminishing retu...
25  cards

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Business Economics

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