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Economic Principles

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

By: Elise Marshall
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Decks in this class (19)

Thinking Like An Economist
10 principles of econ how people ...,
What are the 3 sections of the 10...,
10 principles of econ how people ...
8  cards
Supply And Demand
What is the income effect 0,
What are the determinants of dema...,
What is the substitution effect 2
6  cards
Elasticity
Inelasticity 0,
Ped 1,
Elasticity 2
10  cards
Theory Of Consumer Choice
What are the assumptions of the s...,
Standard economic model 1,
What is the budget constraint 2
22  cards
Competitive Markets
What are implicit costs 0,
What are explicit costs 1,
What is the short run 2
31  cards
Consumers, Producesrs And The Efficient Of Markets
What is allocative efficiency 0,
What is well being 1,
Definition of cost 2
9  cards
Supply, Demand And Gov Policies
Price floor 0,
Price ceiling 1,
Direct taxes 2
7  cards
The Tax System And The Costs Of Taxation
Deadweight loss and tax s inelast...,
Deadweight loss 1,
Deadweight loss and tax s elastic 2
16  cards
Public Goods, Common Resources And Merit Goods
Private sector 0,
Public sector 1,
Private goods 2
12  cards
Externalities And Market Failure
What is internalising an external...,
Externality 1,
4 types of private solutions to e...
21  cards
Monopolistic Competition
Characteristics 0,
Monopolistic competition 1,
Monopolistic competitive firm in ...
7  cards
Info And Behavioural Economics
Agent 0,
Principal 1,
Asymmetric info 2
14  cards
Firm's Production Decisions
Marginal rate of technical substi...,
Production isoquants 1,
Isocost lines 2
3  cards
Monopoly
Monopoly 0,
Imperfect competition 1,
Barriers to entry 2
10  cards
Contestable Markets
Predatory or destroyer pricing 0,
Entry limit pricing 1,
Competitive advantage 2
4  cards
Oligopoly
Concentration ratio 0,
Oligopoly 1,
Market segments 2
20  cards
Labour Markets
Production function 0,
Derived demand 1,
Value of the marginal product 2
15  cards
Income Inequality And Poverty
Gini coefficient 0,
Lorenz curve 1,
Life cycle 2
14  cards
Interdependnce And Gains From Trade
Absolute adv 0,
Ppf 1,
Comparative adv 2
9  cards

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Economic Principles

  • Class purpose General learning

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