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Jazmine White
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Decks in this class (22)
1.1.1 : Economics As A Social Science
What are the aims of economics,
What are some difficulties of eco...,
What is a ceteris paribus
5
cards
1.1.2 : Positive & Normative Statements
What is a positive statement,
What is a normative statement,
What are some key words for norma...
4
cards
1.1.3 : The Economic Problem
What are non renewable resources,
What does the rate of extraction ...,
What are renewable resources
18
cards
1.1.4 : Production Possibility Frontiers
What are ppfs,
What is the maximum potential in ...,
How does opportunity cost link wi...
16
cards
1.1.5 : Specialisation & The Divsion of Labour
What is specialisation,
What is the division of labour,
What did adam smith believe in
14
cards
1.1.6 : Types of Economies
What is a free market economy,
What are the features of a free m...,
What are market mechanisms
14
cards
1.2.1 : Rational Decision Making
What is economic welfare,
What is utility,
What is homo economicus
14
cards
1.2.2 : Demand
What is demand,
What causes a movement along the ...,
What is the relationship between ...
14
cards
1.2.3 : Price, Income & Cross Elasticities Of Demand
What is the shorthand of price el...,
What is the shorthand of income e...,
What is the shorthand of cross el...
30
cards
1.2.4 : Supply
What is supply,
What causes a movement along the ...,
What is the relationship between ...
7
cards
1.2.5 : Elasticities of Supply
What is the shorthand of price el...,
What are price elasticities of su...,
What is the formulae of price ela...
12
cards
1.2.6 : Price Determinatiom
What is equilibrium price also kn...,
What is equilibrium price,
In what situation would the equil...
9
cards
1.2.7 : Price Mechanism
In a ____ ________ _________ the ...,
What is price mechanism,
What are the three functions of t...
9
cards
1.2.8 : Comsumer & Producer Surplus
What is a consumer surplus,
What is producer surplus,
What is the formula for total sur...
10
cards
1.2.9 : Indirect Taxes & Subsidies
0
cards
1.2.10 : Alternate Views Of Consumer Behaviour
How do consumers act to maximise ...,
What are three ways that make con...,
What is computation
6
cards
1.3.1 : Types of Market Failure
What is market failure,
What is partial market failure,
What is a missing market
4
cards
1.3.2 : Externalities
0
cards
1.3.3 : Public Goods
0
cards
1.3.4 : Imformation Gaps
0
cards
1.4.1 : Government Intervention In Markets
0
cards
1.4.2 : Government Failure
0
cards
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Economics Theme 1 : Intro to Markets & Market Failure
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