This class was created by Brainscape user Brock Barthol. Visit their profile to learn more about the creator.
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Brock Barthol
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Decks in this class (17)
exam 1: chapter one
What is an incentive,
What is the outcome of public and...,
How can one regulate incentives t...
27
cards
exam 1 chapter2:
In what scenario does trading mak...,
What do specialization and the di...,
How does trade increase productivity
15
cards
exam 1 chapter 3:
What is a demand curve,
What is quantity demanded,
What explains how prices are dete...
31
cards
Chapter 4:
What is equilibrium,
What is a surplus,
What happens to price as the resu...
12
cards
Chapter 8:
What is a price ceiling,
What are the five side effects of...,
What is the effect of a price cei...
13
cards
Chapter 5
What is elasticity of demand refe...,
In reference to the elasticity of...,
What is the equation for calculat...
26
cards
Taxes and Subsides:
What is a subside and what is it ...,
T f who pays the tax does depend ...,
What is the effect of a tax on th...
19
cards
Chapter 9
What situation leads to importing,
What is protectionism,
What is a tarrif
10
cards
chapter 19
What is a fungible product,
What is a rival good,
What is an excludable good
17
cards
Chapter 11:
In a competitive market producers...,
The demand for one firms product ...,
When is an industry competitve
30
cards
Chapter 12
Profit x y,
Profits are maximized when p x mc,
T f market price allocates produc...
17
cards
Chapter 13 monopoly
What is market power,
What is a monopoly,
A firm with market power must bla...
10
cards
Chapter 17
What are the characteristics of m...,
What does the demand curve of a m...,
What is the definition of monopol...
22
cards
chapter 20:
Public choice,
Rational ignorance,
What is an example of rational ig...
30
cards
Chapter 24:
What is asymmetric information an...,
When do markets work best when tr...,
T f a party will likely stay in a...
16
cards
Chapter 25
What is a util,
What is marginal utility,
Diminishing marginal utility
9
cards
chapter 15:
What is an ologopoly,
What are characteristics of an ol...,
What type of market has a higher ...
14
cards
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Economics
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