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

Decks in this class (15)

Economic Activity
What s the difference between nee...,
What is the purpose of economics 2,
What are the key economic decisio...
3  cards
Factors of Production
Define factors of production 1,
What are the 4 factors of product...,
What is capital 3
10  cards
Making Choices
What is the basic economic problem 1,
What is opportunity cost 2
2  cards
Markets and Allocation of Resources
What is a market 1,
What are factor markets 2,
What are product markets 3
6  cards
Economic Sectors
What is the primary sector 1,
What is the secondary sector 2,
What is the tertiary sector 3
3  cards
Specialisation, Division of Labour, and Exchange
What is specialisation 1,
What is division of labour 2,
Advantages of division of labour 3
4  cards
Demands for Goods & Services
What is demand 1,
What is individual demand 2,
What is market demand 3
9  cards
Supply for Goods & Services
What is supply 1,
If the supply increases 2,
If the supply decreases 3
4  cards
PED and PES
What is ped 1,
What is the equation for ped pes 2,
What is perfectly inelastic 3
11  cards
Costs, Revenue, Profit and Loss
What is the equation for total co...,
What is fixed cost 2,
What is variable cost 3
13  cards
main economic groups
What are the main economic groups 1,
What are consumers 2,
What are producers 3
5  cards
Economies of Scale
What is risk bearing economies of...,
What is managerial economies of s...,
What is financial economies of sc...
7  cards
Diseconomies of Scale
What is alienation 1,
What is bureaucracy 2,
What is communication diseconomie...
4  cards
Equilibrium Price
What is equilibrium price 1,
What is excess demand 2,
What is excess supply 3
3  cards
Market Structures
What is a monopoly 1,
What is duopoly 2,
What is oligopoly 3
13  cards

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Economics

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