ECONOMICS -THEME 1 : Introduction to markets and market failure

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Flashcard maker: Megan Mitchell

Decks in this class (23)

Economics as a social science
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6  cards
Positive and Normative statements
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9  cards
Economic data
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10  cards
The Economic Problem
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23  cards
Production possibility Frontiers (PPF's)
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5  cards
Economic growth & the PPF
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14  cards
Mass production and Division of labour
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9  cards
Types of economies
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7  cards
The Functions of Money
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24  cards
Contributions to economies
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4  cards
Rational decision making
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5  cards
Mixed formulas
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7  cards
Supply & Demand
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9  cards
Price Elasticity of Demand (PED)
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12  cards
Income elasticity (YED)
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12  cards
Cross price elasticity (XED)
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13  cards
Price elasticity of supply
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2  cards
Indirect taxes
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10  cards
Subsidies
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6  cards
Incidence of tax
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9  cards
Alternative explanations of behaviour
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12  cards
Market failure
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14  cards
Government intervention
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1  cards

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ECONOMICS -THEME 1 : Introduction to markets and market failure

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