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Aditya Mantha
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Decks in this class (17)
Lesson 1 - Economic Principles
Economics 1,
Scarcity 2,
What do economists study 3
21
cards
Lesson 2 Economic Methods
Challenge in scientific theory fo...,
Assumptions 2,
Models 3
27
cards
Lesson 3 Consumer Choice Theory
What is the consumer s budget con...,
Slope of budget constraint graph 2,
How can budget constraint shift 3
14
cards
Lesson 4 Consumer Choice Application
Optimum 1,
Consumer chooses quantities of tw...,
Relative price vs marginal rate o...
36
cards
Lesson 5 - Market Equilibrium
Equilibrium 1,
Market clearing price 2,
Surplus 3
11
cards
Lesson 6 - Elasticity
Elasticity 1,
Price elasticity of demand 2,
Rules of thumb for elasticity of ...
22
cards
Lesson 7 Economics Welfare/Govt intervention
Price ceiling 1,
Price floor 2,
Binding vs non binding price ceil...
21
cards
Lesson 8 Taxes
Tax incidence 1,
Impact of tax on ice cream cone s...,
Effect of taxes 3
18
cards
Lesson 9 Trade Theories
World price 1,
Domestic price represents 2,
Small economy assumption 3
21
cards
Lesson 10 - Externalities
Externality 1,
Social cost 2,
Ex of social cost effect on market 3
17
cards
Lesson 11 public goods + common resources
Two characteristics to classify g...,
Private goods 2,
Public goods 3
13
cards
Lesson 12 Costs of Production
Industrial organization 1,
Goal of firms 2,
Profit 3
26
cards
Perfectly Competitive Markets
Competitive market perfectly comp...,
Price of good equals 2,
Average revenue 3
18
cards
Monopolies
Monopoly firms are price ____ 1,
Monopoly 2,
Why do monopolies arise 3
27
cards
Monopolistic Competition
Monopolistic competition 1,
Characteristics of monopolistic c...,
Demand curves for monopolistic co...
13
cards
Oligopoly
Oligopoly 1,
Collusion 2,
Cartel 3
16
cards
Macroeconomic Aggregates
Macroeconomics 1,
Gross domestic product 2,
What does gdp measure 3
20
cards
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Econ
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