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Bella V
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Decks in this class (14)
Chapter 1: Intro
What is economics 1,
Scarcity 2,
What is our wants limited by 3
40
cards
Chapter 2: The Economic Problem
What is a trade off 1,
Production possibilities frontier...,
Points outside the frontier are _...
26
cards
Chapter 3: Demand & Supply
What are the 2 sides of a market 1,
Competitive market 2,
Producers offer items for sale if...
39
cards
Chapter 4: Elasticity
Recap as supply decreases equilib...,
What occurs if the quantity deman...,
What occurs when quantity demande...
19
cards
Chapter 5: Equity & Efficiency
What are the 8 resource allocatio...,
Market price 2,
Majority rule 3
31
cards
CHAPTER 6
Price ceiling cap 1,
What happens when a price cap is ...,
What is a rent ceiling 3
50
cards
CHAPTER 7: Global Markets in Action
What is the difference between an...,
What is the fundamental driving f...,
What is a national comparative ad...
23
cards
CHAPTER 8: Utility & Demand
What are consumption choices 1,
What are consumption possibilitie...,
A budget line describes the bound...
30
cards
CHAPTER 9: Possibilities, Preferences, & Choices
Consumption possibilities are cho...,
What does the household budget li...,
What are divisible goods 3
31
cards
CHAPTER 10: Outputs & Costs
Firm 1,
The ultimate goal of firms is to 2,
Depreciation describes a fall in ...
45
cards
CHAPTER 11: Perfect Competition
Perfect competition describes a m...,
When does perfect competition ari...,
What is a price taker 3
27
cards
CHAPTER 12: Monopoly
What is a monopoly 1,
How does technology weaken or str...,
What are barriers to entry explai...
24
cards
CHAPTER 13: Monopolistic Competition
Monopolistic competition 1,
In monopolistic competition the i...,
What is product differentiation 3
12
cards
CHAPTER 14: Oligopoly
Oligopoly is a market in which 1,
What is a duopoly 2,
Firms in oligopoly are _____ face...
15
cards
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ECON 1050
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