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Economics

This class was created by Brainscape user Katerina HOFFMANN WING. Visit their profile to learn more about the creator.

By: Katerina HOFFMANN WING
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Decks in this class (14)

Textbook Glossary
Abnormal profit 1,
Absolute advantage 2,
Absolute poverty 3
474  cards
Demand, supply, and elasticities
State the law of demand 1,
Assumptions of the law of demand 2,
Non price determinants of demand 3
56  cards
Govt. Intervention
Reasons to grant subsidies 1,
Effect of subsidies on consumers 2,
Effect of subsidies on producers 3
21  cards
Market failure
Formula for positive externality ...,
Solutions to positive externaliti...,
Problems with subsidizing firms f...
31  cards
Market Power
Characteristics of perfect compet...,
Characteristics of a monopoly 2,
Characteristics of an oligopoly 3
28  cards
Measuring economic activity
Leakages of the circular flow of ...,
Injections of the circular flow o...,
Components of gdp 3
15  cards
AD & AS
Define aggregate demand 1,
Components of aggregate demand 2,
Determinants of aggregate demand ...
18  cards
Macroeconomic objectives
Consequences of economic growth o...,
Types of unemployment 2,
Possible policies to deal with fr...
32  cards
Inequality and Poverty
Define equality 1,
Define equity 2,
Absolute poverty vs relative pove...
17  cards
Macroeconomic policies
Sources of government revenue 1,
Types og govt expenditure 2,
Budget surplus 3
44  cards
Exchange rates + Balance of payments
Exchange rate 1,
What is a floating exchange rate ...,
Currency appreciation 3
42  cards
Development
Sustainable development 1,
Pollution of affluence 2,
Pollution of poverty 3
20  cards
Paper 3: Policies
What are price ceilings and why a...,
Pros of price ceilings 2,
Cons of price ceilings 3
190  cards
Formulas
Total costs 1,
Total fixed costs 2,
Total variable costs 3
43  cards

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Economics

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