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Abigail Good
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Decks in this class (29)
Demand
Price of complement decreases,
Price of substitute increases,
Income increases normal good
22
cards
Supply
Theory of supply,
Why is the supply curve upwards s...,
What does the increased price act as
21
cards
Market Equilibrium for Demand and Supply
Price ceiling,
How does a price ceiling affect m...,
Price floor
11
cards
PED
Elasticity,
What change leads to what change,
Percentage change price
29
cards
PES, YED, XED
Income elasticity of demand,
Yed equation,
What type of answer do you get fo...
30
cards
Tax Incidence
Direct tax,
How are direct taxes paid to gove...,
Can direct taxes be adjusted
55
cards
Subsidies
Subsidy,
Why might subsidies be implemented,
Deadweight welfare loss
19
cards
Merit Goods, Public Goods, Demerit Goods
Merit goods,
Are merit goods under or over pro...,
What is the degree of government ...
21
cards
Externalities
Externality,
Social optimum,
Msb
17
cards
Asymmetric Information
Asymmetric information,
Examples of asymmetric information,
Solutions to asymmetric information
3
cards
Theory of the Firm
Long run average total cost graph,
What are the five different types...,
Managerial economies of scale
24
cards
Perfect Competition
Short run close down level of out...,
Market characteristics perfect co...,
Graph connecting supply and deman...
6
cards
Monopoly
Show on the graph break even poin...,
Monopoly,
Assumption monopoly
10
cards
Price discrimination
Price discrimination,
Examples of price discrimination,
What are the necessary conditions...
18
cards
Monopolistic Competition
Monopolistic competition,
Monopolist competition assumptions,
How do firms product differentiate
12
cards
Oligopoly
Oligopoly,
Oligopoly assumptions number of f...,
What are the strategies used by m...
15
cards
National Income
Gdp equation expenditure method,
What occurs at market equilibrium,
Standard of living equation
7
cards
Inflation
What are the limitations to the c...,
When is inflation good,
Inflation
19
cards
Unemployment
Unemployment,
Unemployment rate,
Unemployment rate equation
35
cards
AS/AD
Aggregate demand,
Aggregate supply,
Keynesian vs neoclassical aggrega...
17
cards
Tax Systems
Proportional tax,
Proportional tax burden,
Regressive tax
15
cards
Economic Growth
Economic growth,
Business cycle,
Accelerator
5
cards
Equity
What is the big tradeoff in equity,
Equity,
Equality
5
cards
Macroeconomic Policies
Fiscal policy,
Automatic fiscal policy economic ...,
Automatic fiscal policy recession
27
cards
Trade Agreements
World trade organisatoin,
What are the aims of the wto,
Which functions does the wto perform
16
cards
Comparative and Absolute Advantage
What are the benefits of internat...,
Absolute advantage,
Comparative advantage
8
cards
Protectionism
Arguments for protectionism,
Infant industries,
Dumping
10
cards
Exchange Rates
Actors in the foreign exchange ma...,
Foreign exchange market,
Floating exchange rate
38
cards
Development Economics
Growth diagram with and without d...,
Poverty cycle diagram,
Dependency ratio
46
cards
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IB Economics
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