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Ria Bachetta
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Decks in this class (22)
1.1.1 Economics as a Social Science
Define economics 1,
What is the role of assumptions i...,
What are the advantages and disad...
6
cards
1.1.2 Positive and Normative Economic Statements
What is a positive economic state...,
What is a normative economic stat...,
Describe the role of value judgem...
3
cards
1.1.3 The Economic Problem
Describe the problem of scarcity 1,
What is the distinction between r...,
What is opportunity cost and why ...
3
cards
1.1.4 Production Possibility Frontiers
How are production possibility fr...,
What s the difference between a m...,
What is the distinction between a...
3
cards
1.1.5 Specialisation and the Division of Labour
Describe specialisation and the d...,
What are the advantages and disad...,
What are the advantages and disad...
4
cards
1.1.6 Free Market Economies, Mixed Economy and Command Economy
What is the distinction between f...,
What are the advantages and disad...,
What are the advantages and disad...
4
cards
1.2.1 Rational Decision Making
What are the underlying assumptio...
1
cards
1.2.2 Demand
What is the distinction between m...,
What are some factors that may ca...,
What is diminishing marginal util...
3
cards
1.2.3 Price, Income and Cross Elasticities of Demand
Define price elasticity of demand...,
Define income elasticity of deman...,
Define cross elasticity of demand...
9
cards
1.2.4 Supply
What is the distinction between m...,
What are some factors that may ca...
2
cards
1.2.5 Price Elasticity of Supply
What is the formula and definitio...,
Interpret the numerical values of...,
What are some factors influencing...
4
cards
1.2.6 Determination of Market Prices
Define 1 equilibrium price 2 equi...,
Define market equilibrium 2
2
cards
1.2.7 Price Mechanism
State and explain the three funct...,
How does the price mechanism work...,
Why is it important for the price...
3
cards
1.2.8 Consumer and Producer Surplus
Define consumer surplus 1,
Define producer surplus 2,
How does an increase in demand fo...
6
cards
1.2.9 Indirect Taxes and Subsidies
What is an indirect tax 1,
What are some indirect taxes used...,
What is an ad valorem tax 3
8
cards
1.2.10 Alternative Views of Consumer Behaviour
Why might consumers may not behav...
1
cards
1.3.1 Types of Market Failure
What is market failure 1,
What are the types of market fail...,
What are some examples of each ty...
3
cards
1.3.2 Externalities
What is the distinction between p...,
What is the distinction between p...,
What is the impact on economic ag...
3
cards
1.3.3 Public Goods
What is the distinction between p...,
Why public goods may not be provi...
2
cards
1.3.4 Information Gaps
What is the distinction between s...,
How imperfect market information ...
2
cards
1.4.1 Government Intervention in Markets
What are the types of interventio...,
What are some non price related g...
2
cards
1.4.2 Government Failure
What is government failure 1,
What are some causes of governmen...,
What are some examples of governm...
3
cards
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Economics Theme 1
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