This class was created by Brainscape user Megan Clark. Visit their profile to learn more about the creator.
By:
Megan Clark
- decks
- flashcards
- learners
Decks in this class (15)
Chapter 1 - First Principles
Why are choices necessary,
What is the true cost of something,
What do people respond to
12
cards
Chapter 2 - Economic Models: Trade-offs And Trade
What is created to understand rea...,
What is the production possibilit...,
When is an economy efficient on p...
13
cards
Chapter 3 - Supply and Demand
What is a competitive market,
What is the demand curve,
What is a demand schedule
19
cards
Chapter 4 - Consumer And Producer Surplus
What does the consumer and produc...,
What is a willingness to pay,
What is the total consumer surplus
7
cards
Chapter 5 - Price Controls And Quotas
Why do governments control market...,
Price controls,
Price ceiling
5
cards
Chapter 6 - Elasticity
Elastic demand,
Inelastic demand,
Price effect
13
cards
Chapter 7 - Taxes
Incidence of a tax,
What happens when price elasticit...,
If the price elasticities of tax ...
10
cards
Chapter 9 - Decision Making By Individuals And Firms
Explicit cost,
Implicit cost,
Capital
21
cards
Chapter 10 - The Rational Consumer
Utility,
Consumption bundle,
Utility function
14
cards
Chapter 11 - Behind The Supply
Production function,
Fixed input,
Variable input
20
cards
Chapter 12 - Perfect Competion And The Supply Curve
Price takers,
Most competitive industries have,
Short run market equilibrium
4
cards
Chapter 13 - Monopoly
Monopolist,
Monopolists have,
Natural monopoly
11
cards
Chapter 16 - Externalities
External cost,
External benefits,
Negative externalities positive e...
11
cards
Chapter 17 - Public Goods
Excludable,
Nonexludable,
Rival in consumption
8
cards
More about
Econ 101
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Megan Clark's Econ 101 flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Physics 101
- 7 decks
- 625 flashcards
- 25,810 learners
Decks:
Newton Units Translation, Work Energy Momentum, Atomic Nuclear Phenomena, And more!
Psychology 101
- 14 decks
- 1,070 flashcards
- 16,651 learners
Decks:
Research Methods, Biological Bases Of Behavior, History And Approaches, And more!
ECON101
- 9 decks
- 384 flashcards
- 2312 learners
Decks:
Chapter 1, Lecture 1 Review Chapter 1 3, Lecture 2 Chapter 4, And more!
econ
- 37 decks
- 702 flashcards
- 13 learners
Decks:
Economics As A Social Science 111, Market Failure 13 Gov Intervention 14, Theme 2 21 Measures Of Economic Performa, And more!
