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Economics Exam 1

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

By: Emily Waldhauer
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Decks in this class (9)

Chapter 1 (10 principles of economics)
10 principles of economics 1,
Opportunity cost 2,
Scaricity 3
18  cards
Chapter 2 (think like an economist)
Circular flow diagram 1,
3 inputs firms use to produce goo...,
Production possibilities frontier 3
13  cards
Chapter 4(supply and demand)
What is the study of supply and d...,
Demand 2,
Supply 3
37  cards
Chapter 5 (elasticity)
Elasticity 1,
Price elasticity of demand 2,
Price elasticity of supply 3
21  cards
Chapter 7(consumers,producers,efficiency of markets)
Welfare economics 1,
Willingness to pay 2,
Consumer surplus 3
14  cards
chapter 6(supply demand and govt policies)
Price ceiling 1,
Price floor 2,
A price ceiling that is not bindi...
13  cards
Chapter 8(costs of taxation)
How is the benefit of buyers in a...,
How is the benefit of sellers in ...,
How is the benefit of the governm...
11  cards
ch 10: externailities
Externality 1,
Is market equilibrium efficient w...,
Why does the government regulate ...
14  cards
Ch 11(public goods and common resources)
Excludable good 1,
Rival goods 2,
Private goods 3
9  cards

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Economics Exam 1

  • Class purpose General learning

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