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

Flashcard maker: Sarthak Sarawagi

Decks in this class (3)

The Basic Economic Problem
The basic economic problem, Economic and free goods, Factors of production and rewards, Mobility, Opportunity Cost, Production Possibility Curve (PPC).
37  cards
The Allocation of Resources
Difference between micro and macroeconomics, Free market-mixed-planned economies, Price mechanism, Demand, Supply, Equilibrium, Price Changes, Price Elasticity of Demand (PED), Price Elasticity of Supply (PES), Market Failure and Government interventions.
54  cards
Microeconomic decision makers
Money and banking, households, workers, trade unions, firms, firms and production, firms' costs/ revenue/ objectives, market structure.
29  cards


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