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Susie Cabral
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Decks in this class (26)
free market economies
Free market economy 1,
Who belived in the free market ec...,
Who believed in the command econo...
13
cards
introduction to economics
Economics agent 1,
Positive statement 2,
Normative statement 3
7
cards
opportunity cost PPF curve 1.1.4
Consumer goods 1,
Capital goods 2,
Opportunity cost 3
8
cards
rational decision making 1.2.1
Rational decision making 1,
Utility 2,
Maximising utility 3
6
cards
demand 1.2.2
P.A.S.I.C.F.I.C
10
cards
supply 1.2.4
PINTSWC
12
cards
PED 1.2.3
Law of demand 1,
Ped 2,
Ped 3
16
cards
PES 1.2.5
Pes 1,
Pes 2,
Greater than 1 3
13
cards
YED
Yed 1,
Yed 2,
Normal good 3
8
cards
Price determination market equilibrium 1.2.6
Blank 1
1
cards
consumer and producer surplus 1.2.8
Consumer surplus meaning 1,
Producer surplus 2
2
cards
indirect taxation 1.2.9
Indirect taxs 1,
Direct tax 2,
Indirect tax 3
5
cards
subsidies 1.2.9
Subsidy 1,
Solve market failour 2,
Increase affordability 3
3
cards
market failure and externalities 1.3.1 and 1.3.2
Under provision of public goods 1,
Merit good 2,
Demerit good 3
7
cards
causes of market failure 1.3.3
Blank 1
1
cards
govt intervention in markets - minimum pricing 1..4.1
What is minimum pricing 1,
Why minimum price 2,
Blank 3
4
cards
cross elasticity of demand XED
Xed measures 1,
Xed 2,
3
7
cards
allocative efficiency
Allocative efficiency 1,
Marginal private costs mpc 2,
Marginal social cost msc 3
15
cards
price mechanism
Excess demand 1,
A 2,
S 3
5
cards
information gaps
Symmetric information 1,
Asymmetric information 2,
Imperfect information 3
3
cards
minimum pricing
0
cards
government intervention in markets 1.4.1
State provision 1,
Information provision 2,
Regulations 3
3
cards
state provision
0
cards
externalities
Positive production externalities 1,
Negative production externality 2,
Positive consumption externality 3
4
cards
government failure
Government failure is 1,
Information failure 2,
Administrative and enforcement co...
3
cards
tradable pollution permits
What is a tradable pollution perm...
1
cards
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Micro Theme 1
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