This class was created by Brainscape user Rahjun Sandhu. Visit their profile to learn more about the creator.
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Rahjun Sandhu
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Decks in this class (23)
LS1 - The Economic Problem
Corporation tax 1,
What are the fop 2,
Capital 3
12
cards
LS2 - Economics As A Social Chase
Theoretical model 1,
Empirical model 2,
Why do economists develop models 3
5
cards
LS3 - Opportunity Cost
Opportunity cost 1,
How do consumers use opportunity ...,
How do producers use opportunity ...
11
cards
LS4 - Economic Statements
Objective statements 1,
Subjective statements 2,
Positive economic statements 3
6
cards
LS5 - Specialisation
Specialisation 1,
Division of labour 2,
Productivity equation 3
14
cards
LS6 - Types Of Economy
Market 1,
Ways to allocate resources 2,
Market mechanism 3
10
cards
LS7 - Decision Making
Problem 1
1
cards
LS8 - Demand
Problem of demand 1,
Solution of demand 2,
Demand 3
8
cards
LS9 - Supply
Raw material 1,
Revenue 2,
Total revenue 3
6
cards
LS10 - Price Determination
What s a market 1
1
cards
LS11 - Taxes & Subsidies
Direct tax 1,
Indirect tax 2,
Ad valorem tax 3
5
cards
LS12 - Price Elasticity Of Demand
Price elasticity of demand 1,
Price elastic 2,
Price inelastic 3
10
cards
LS12 - Price Elasticity Of Supply
Price elasticity of supply 1,
Price elastic 2,
Price inelastic 3
7
cards
LS13 - Consumer & Producer Surplus
Consumer surplus 1,
Consumer surplus graphway 2,
Producer surplus 3
4
cards
LS14 - Diminishing Marginal Utility
Tax revenue 1,
Government spending 2,
Income effect 3
6
cards
LS15 - XED
Cross price elasticity of demand ...,
Xed equation 2,
Xed 0 3
5
cards
LS15 - YED
Normal goods 1,
Inferior goods 2,
Income elasticity of demand yed 3
8
cards
LS16 - Price Mechanism
Price mechanism 1,
Rationing function 2,
Signalling function 3
5
cards
LS17 - Market Failure & Externalities
Market failure 1,
Market failure in practice 2,
Social optimal level of output 3
10
cards
LS18 - Public Goods
Public goods 1,
Non rivalrous 2,
Non excludable 3
11
cards
LS19 - Information Gaps
Perfect information 1,
Symmetric information 2,
Imperfect information 3
13
cards
LS20 - Max & Min Prices
Maximum prices 1,
Minimum price 2,
Excess supply 3
15
cards
LS21 - Tradable Pollution Permits
0
cards
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Micro Theme 1
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