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MicroEconomics

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

By: Matthew Burden
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Decks in this class (12)

economics key terms
What is demand 1,
What is supply 2,
What is elasticity 3
12  cards
lessons 1-4
What does economics mean 1,
What is opportunity cost 2,
What is scarcity 3
6  cards
lesson 5- factors of production+ lesson 6- utility
What are the factors of production 1,
What should you consider in terms...,
What should you consider in terms...
8  cards
lesson 7- demand
What is derived demand 1,
What are substitutes 2,
What is composite demand 3
7  cards
lesson 8- surplus and excesses
What is consumer surplus 1,
What is producer surplus 2,
A consumer is willing to buy a pa...
6  cards
lesson 9- supply
What is supply 1,
What does a shift left and right ...,
What are two impacts that higher ...
6  cards
lesson 10- elasticity
What is elasticity 1,
What is elastic price elasticity ...,
What is inelastic price elasticit...
25  cards
lesson 10- tax incidence
What are direct taxes 1,
What are indirect taxes 2,
What is progressive tax 3
8  cards
lesson 11- market failure
What is market failure 1,
How are externalities an example ...,
How are de merit goods an example...
17  cards
lesson 12- externalities
What is a positive externality 1,
What is a negative externality 2,
What is marginal private cost mpc 3
15  cards
government intervention and failure
How can governments intervene 1,
What is government failure 2,
Why does government failure happen 3
5  cards
lesson 14- poverty and inequality
What is equity 1,
What is absolute poverty 2,
What is relative poverty 3
7  cards

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MicroEconomics

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