This class was created by Brainscape user Rachel Axton. Visit their profile to learn more about the creator.
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Rachel Axton
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Decks in this class (10)
Chapter 1 - Introduction
What is economics 1,
What are the two fundamental fact...,
What are the two key types of eco...
37
cards
Chapter 2 - Supply & Demand
What is a predictable outcome 1,
How does an increase in demand af...,
How does a decrease in demand aff...
34
cards
Chapter 3 - Elasticity
What is price elasticity of demand 1,
Why is price elasticity conducted...,
What is the rule relating to nega...
33
cards
Chapter 4 - Market applications
What is a price ceiling 1,
Why would a price ceiling be appl...,
What are two ways price ceilings ...
10
cards
Chapter 5 - Costs of production
What is the economic opportunity ...,
What are explicit costs 2,
What are implicit costs 3
50
cards
Chapter 6 - Perfect Competition
What is a price taker 1,
What is the opposite to a price t...,
Explain the demand schedule and d...
59
cards
Chapter 7 - Monopolistic Competition and Oligopoly
What is monopolistic competition 1,
What are the three characteristic...,
What is product differentiation g...
53
cards
Chapter 8 - Markets and Government Intervention
Whether a purely competitive indu...,
What does it mean if average cost...,
What does the equality of price a...
51
cards
Chapter 9 - Business cycles, macroeconomic goals & measurement
What is gross domestic product 1,
How is it measured 2,
What is the purpose of national a...
44
cards
Chapter 10 - Government policies to influence economic activity
Federal government finance consis...,
What does federal expenditures in...,
What does federal revenues include 3
55
cards
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MicroEconomics
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