This class was created by Brainscape user Ramadan Bajwa. Visit their profile to learn more about the creator.
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Ramadan Bajwa
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Decks in this class (15)
The Economic Problem
What is the economic problem 1,
What 3 descisions have to be made...,
What is opportunity cost 3
9
cards
Economic Assumptions
What do economists assume 1,
What are the reasons why consumer...,
What are the reasons why producer...
3
cards
The Demand Curve
What is demand 1,
What is effective demand 2,
What is a demand schedule 3
7
cards
Factors that may shift the Demand Curve
What are the main factors that ma...,
What is the pneumonic to remember...,
How can advertising shift the dem...
15
cards
The Supply Curve
What is supply 1,
What is a supply curve 2,
From which side does the supply c...
6
cards
Factors that may shift the supply curve
What are ventures 1,
What are the factors which cause ...,
How would cost of production affe...
10
cards
Market Equilibrium
What is equilibrium price 1,
What is eqilibrium also known as ...,
How is total revenue calculated 3
12
cards
Price Elasticity of Demand
What is the reason for price elas...,
What is price elasticity of demand 2,
What determines the price elastic...
17
cards
Price Elasticity of Supply
What is supply elasticity 1,
What is inelastic supply 2,
What is elastic supply 3
13
cards
Income Elasticity
What is income elasticity of dema...,
What is the formula for income el...,
How to interpret the income elast...
12
cards
The Mixed Economy
What is an economy 1,
What do descision makers in an ec...,
What are the types of private sec...
29
cards
Privatisation
What is privatisation 1,
What are monopolies 2,
Nationalised industries 3
14
cards
Externalities
What is spillover effect 1,
What are external costs 2,
What are some external costs 6 3
9
cards
The factors of production and sectors of the economy
What is production 1,
What are the factors of production 2,
How does land affect production 3
7
cards
Productivity & Division of labour
What is productivity 1,
What are the subfactors for land ...,
What are the subfactors for labou...
4
cards
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Economics
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