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micro economics

This class was created by Brainscape user Jasmine Barrett-Young. Visit their profile to learn more about the creator.

By: Jasmine Barrett-Young
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Decks in this class (18)

the economic problem
Factors of production,
Basic economic problem,
Opportunity cost
4  cards
ppf
Ppf,
3  cards
specialisation
0  cards
division of labour
0  cards
money and exchange
0  cards
PED
Diagram for perfectly price inela...,
Diagram for perfectly price elastic,
Ped for perfectly price inelastic
14  cards
YED
Yed,
Yed,
Yed 0
8  cards
XED
Xed,
Xed 0,
Xed 0
7  cards
PES
P,
Pes,
Pes 1
6  cards
specialisation + division of labour
3874101 billion,
Specialistation,
3 advantages of
4  cards
money + exchange
What is the need for money,
Characteristics,
Functions
4  cards
types of economy
Economic systems,
5 types of economy,
Traditional
9  cards
rational decision making
0  cards
consumers - demand
0  cards
consumer surplus
0  cards
supply
1  cards
price mechanism
0  cards
indirect taxes and subsidies
0  cards

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micro economics

  • Class purpose General learning

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