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Economics 1 Reduced

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

By: Kyle Greeff
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Decks in this class (13)

CH1: Introduction to Economics
Blank 1,
What is economics and why does it...,
What is scarcity and how is it di...
32  cards
CH2: Economic Systems
How do micro and macroeconomics r...,
Question 2,
What are the three central econom...
36  cards
CH3: Demand, Supply, and Prices
Injections investment i 1,
What is demand in economics 2,
What are the main determinants of...
18  cards
CH4: Changes in Demand & Supply
How are consumer and producer sur...,
What is the effect of an increase...,
What causes the demand curve to s...
15  cards
CH5: Elasticity
What paradox may occur when farme...,
What is elasticity in economics 2,
What does the elasticity formula ...
24  cards
CH6: The Theory of Demand: The Utility Approach
Perfectly elastic supply 1,
What is utility in economics 2,
What is marginal utility 3
10  cards
CH7: Cost of Production
Why is the utility approach usefu...,
What is a firm in economics 2,
What is the main goal of a firm i...
40  cards
CH8: Market Structures
Why is the lrac curve smooth in t...,
What are the four standard market...,
What is the shut down rule in the...
27  cards
CH9: Labour Market
What is the equilibrium condition...,
What is the main factor determini...,
How does the labour market differ...
16  cards
CH10: Fiscal and Monetary Policy
What causes a shift in the labour...,
What are the four main functions ...,
What is the difference between co...
20  cards
CH11: Aggregate Demand & Aggregate Supply
Why is it politically difficult t...,
What model is commonly used in mo...,
What does the ad curve represent 3
11  cards
CH12: Economic Growth, Unemployment, & Inflation
How do new keynesians differ from...,
What are the three macroeconomic ...,
What is the importance of economi...
36  cards
CH13: The Foreign Sector
How did import substitution impac...,
Why do countries trade with each ...,
What is absolute advantage 3
23  cards

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Economics 1 Reduced

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