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Economics - Theme 1 (Micro Economics)

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

By: Henry Shadrack
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Decks in this class (22)

1.1.1 Economics as a Social Science
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7  cards
1.1.2 - Positive and Normative Economic Statements
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7  cards
1.1.3 - The Economic Problem
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7  cards
1.1.4 - Production Possibility Frontiers (PPFs)
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12  cards
1.1.5 - Specialisation & The Division of Labour
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9  cards
1.1.6 - Free Market Economies, Mixed Economy & Command Economy
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10  cards
1.2.1 - Rational Decision Making
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9  cards
1.2.2 - Demand
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13  cards
1.2.3 - Price, Income and Cross Elasticities of Demand
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12  cards
1.2.4 - Supply
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10  cards
1.2.5 - Elasticity of Supply
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11  cards
1.2.6 - Price Determination
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11  cards
1.2.7 - Price Mechanism
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10  cards
1.2.8 - Consumer and Producer surplus
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What does consumer surplus repres...,
How is consumer surplus visualize...
23  cards
1.2.9 - Indirect taxes and Subsidies
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12  cards
1.2.10 - Alternative views of consumer behaviour
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9  cards
1.3.1 - Types of Market Failure
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1  cards
1.3.2 - Externalities
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1.3.3 - Public Goods
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1.3.4 - Information Gaps
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What is asymmetric information 3
44  cards
1.4.1 - Government Intervention in Markets
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1  cards
1.4.2 - Government Failure
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1  cards

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Economics - Theme 1 (Micro Economics)

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