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Yul Kwon
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Decks in this class (19)
1.1
Define needs 1,
Define basic needs 1,
Define wants 2
16
cards
1.2
Defne land 1,
What are the factors of production 1,
Define capital 2
15
cards
1.3
Define opportunity cost 1,
What is the opportunity cost for ...,
What is the opportunity cost for ...
5
cards
1.4
What does ppc stand for 1,
What is ppc 2,
What will move the ppc curve to t...
14
cards
2.1
Define micro economics 1,
Define macro economics 2,
Give some examples of decision ma...
4
cards
2.2
Define market 1,
Define market economy 2,
Define price mechanism 2
10
cards
2.3
Define demand 1,
Define effective demand 2,
Define law of demand 3
16
cards
2.4
Define supply curve 1,
Define supply 2,
Define supply schedule 3
13
cards
2.5
Define surplus 1,
Define shortage 2,
Define market equilibrium 3
7
cards
2.6
Blank 1,
Blank 2,
Blank 3
14
cards
2.7
Define inelastic demand 1,
Define price elasticity of demand 1,
Define price elastic demand 2
9
cards
2.8
Define price elasticity of supply 1,
How can we calculate the price el...,
Define price elastic supply 3
9
cards
2.9
Define market economic system 1,
What is the private sector 2,
What is a public sector 3
6
cards
market failure
Define market failure 1,
Define private costs 2,
Define external costs 3
14
cards
mixed economic system
What is the mixed economic system 1,
What is the maximum price 2,
What is the minimum price 3
14
cards
money and banking
What is money 1,
What are the different forms of m...,
What are the different functions ...
10
cards
households
People can earn income from 1,
What is current expenditure 2,
What is disposable income 2
10
cards
workers
What is a wage factor 1,
What are the different types of w...,
Describe wages 3
35
cards
trade unions
Define trade unions 1,
What are some of the things that ...,
What are the things that the empl...
29
cards
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economics
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