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Introduction to Economics

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

By: Alisha Spence
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Decks in this class (12)

What is economics ?
What are the two types of economi...,
What is macroeconomics 2,
What is mircoeconomics 3
22  cards
Elasticity
What is elasticity 1,
What does inelastic mean 2,
What does elastic mean 3
28  cards
The firm
What is the transformation proces...,
What is creative destruction 2,
What are the factors of production 3
28  cards
Firms costs and revenues
What is the equation for profit 1,
What is the equation for revenue 2,
What is the definition of short r...
31  cards
Market structure
Types of markets 1,
Example of international market 2,
Exmaple of national market 3
36  cards
Business and government - market failure and externalities
What is market failure 1,
Three main types of market failure 2,
What is individual failure 3
26  cards
Unemployment approaches
Types of approaches 1,
What does real wage mean 2,
What is the price index 3
36  cards
inflation - causes and cures
What is the definition of money 1,
What is the medium of exchange 2,
What is store of value 3
42  cards
factor markets
Labour market assumptions 1,
What do trade unions do 2,
What is the goal of trade unions 3
18  cards
Macroeconomic environment
What is a macroeconomic policy 1,
What is gdp 2,
How to measure economic growth 3
24  cards
Economic growth and business cycles
What is the potential output 1,
What is the aggregate production ...,
What is the equation for aggregat...
3  cards
Extra things to know
What is resource scarcity 1,
What are the most important chang...,
If discussing the impact of price...
12  cards

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Introduction to Economics

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