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Economics

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

By: Jayisal Fakira
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Decks in this class (15)

LS 1
What is an economy 1,
What are the factors of production 2,
What is capital 3
10  cards
LS 15- Elasticity Part 2
What is the formula for cross pri...,
What is cross price elasticity of...,
What xed values are substitutes c...
3  cards
LS 14- Diminishing Marginal Utility & Misc
What is the income effect 1,
What is marginal utility 2,
What is diminishing marginal util...
4  cards
LS 13- Consumer & Producer Surplus
What is consumer surplus 1,
What is producer surplus 2,
What is the incidence of a tax 3
8  cards
LS 12- Elasticity
What does price elasticity of dem...,
What is demand price elastic 2,
What is demand price inelastic 3
13  cards
LS 11- Taxes & Subsidies
What is an indirect tax 1,
What is an indirect tax 2,
What is a specific tax with examp...
7  cards
LS 10- Price Determination
What is excess demand 1,
What is excess supply 2,
What is market equilibrium 3
4  cards
LS 9- Supply
What is revenue 1,
How do you calculate total revenue 2,
What is supply 3
5  cards
LS 8- Demand
What does the law of demand state 1,
What does a decrease in price res...,
What is demand 3
6  cards
LS 7
What is the problem with economic...,
How can the problem about economi...,
In which schools of economics are...
12  cards
LS 6
What is a free market 1,
What is a mixed economy 2,
What is a command economy 3
8  cards
LS 5
What is specialisation 1,
What is the division of labour 2,
What is productivity 3
9  cards
LS 4
What is a positive statement 1,
What are objective statements 2,
What is a normative statement 3
5  cards
LS 3
What is opportunity cost 1,
How do consumers use opportunity ...,
How do producers use opportunity ...
12  cards
LS 2
What does economics use to explai...,
What can models be used for 2,
Why is it difficult for economist...
8  cards

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Economics

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