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MICRO ECONOMICS

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

By: alessia turner
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Decks in this class (21)

The Economic Problem
Micro economics 1,
Positive statements 2,
Normative statements 3
20  cards
Demands For Goods And Services
Demand 1,
Demand has to be effective 2,
Ceterus paribus 3
22  cards
Price Elasticity Of Demand
Price elasticity of demand 1,
Ped calculation 2,
Elasticity 3
21  cards
Income Elasticity Of Demand
Yed 1,
Yed calculation 2,
Normal goods necessities 3
6  cards
Cross Elasticity Of Demand
Cross elasticity of demand 1,
Xed calculation 2,
Substitutes 3
10  cards
Supply
Law of supply 1,
Effect of price on supply 2,
Why does the supply curve slope u...
8  cards
Price Elasticity Of Supply
Pes 1,
Pes formula 2,
Positive or negative relationship 3
16  cards
Markets
The market equilibrium 1,
Equilibrium diagram 2,
Concept of the equilibrium price 3
14  cards
Consumer + Producer Surplus
Consumer surplus 1,
Consumer surplus diagram 2,
Changes in market price consumer ...
7  cards
Market Failure
Market failure 1,
Markets can fail for a lot of rea...,
Complete market failure 3
4  cards
Economic Efficiency
Economic efficiency 1,
Allocative efficiency 2,
Productive efficiency 3
5  cards
Negative Externalities In Consumption
Negative externalities 1,
Negative consumption externalitie...,
Example 9 marker 3
10  cards
Negative Externalities In Production
Negative production externalities 1,
Negative production externalities 2,
Private costs 3
5  cards
Postive Externalities
Positive externalities 1,
Positive externalities in consump...,
Positive externalities in product...
6  cards
Merit And Demerit Goods
Merit goods 1,
Demerit goods 2,
Perceived benefits merit goods 3
8  cards
Indirect Taxes
Indirect tax 1,
Why impose indirect taxes micro 2,
Why impose indirect taxes macro 3
14  cards
Subsidies
Subsidy 1,
Examples of subsidies 2,
Justifications for subsidies for ...
7  cards
Solutions To Negative Externalities
Solving market failure mic 1,
Market solution internalising the...,
Advantages disadvantages of pollu...
9  cards
Public Goods
Characteristics of public goods 1,
Non excludable 2,
Non rival 3
10  cards
Price Mechanism
What is the price mechanism 1,
Changes in market prices 2,
Signalling function 3
10  cards
Monopolies
Pure monopolist 1,
Working monopoly 2,
Oligopoly 3
10  cards

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MICRO ECONOMICS

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