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lily w
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Decks in this class (19)
ch 1 terms
Scarcity 1,
Diminishing returns 2,
Define economics 3
5
cards
ch 2 terms
Positive statement 1,
Normative statement 2,
Economist scientists 3
6
cards
ch 21 terms
Consumer choice 1,
Define inferior good 2,
Define normal good 3
15
cards
ch 4 terms
Define market 1,
Define competition 2,
Define competitive market 3
18
cards
ch 5 terms
Define price elasticity of demand 1,
What is total revenue 2,
What does it mean if price elasti...
17
cards
ch 6 terms
How to calculate tax rev 1,
Define price ceiling 2,
Define binding price ceiling 3
14
cards
ch 9 terms
Define comparative advantage 1,
Define globalization 2,
Autarky 3
28
cards
ch 7 terms
Define consumer surplus 1,
Define marginal buyer 2,
Define producer surplus 3
4
cards
ch 10 terms
Define externality 1,
Define positive externality 2,
Define negative externality 3
15
cards
ch 11 terms
What are public goods 1,
Define excludable 2,
Define rival in consumption 3
11
cards
Ch 13 terms
Define theory of the firm 1,
Define industrial organization 2,
Define explicit costs 3
32
cards
Ch 14 terms
Define perfect competition 1,
How to calculate total revenue 2,
How to calculate avg rev 3
15
cards
ch 15 terms
Define monopoly 1,
Define barrier to entry 2,
What are the three barriers to en...
19
cards
ch 16 terms
Define oligopoly 1,
Define concentration ratio 2,
Define monopolistic competition 3
14
cards
ch 17 terms
Define oligopoly 1,
Define concentration ratio 2,
Define game theory 3
27
cards
ch 18 terms
What are factors of production 1,
Most important factor of producti...,
What makes up 60 of income in can...
14
cards
ch 19 terms
Define compensating differential 1,
Define human capital 2,
What is the human capital theory 3
8
cards
ch 20
Define gini coefficient 1,
Define r factor 2,
What is the poverty line 3
36
cards
ch 22 terms
Define asymmetric info 1,
Define agent 2,
Define principal 3
26
cards
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econ 1150
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