This class was created by Brainscape user L S. Visit their profile to learn more about the creator.
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L S
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Decks in this class (18)
Chapter 1
What is scarcity 1,
What are economic goods 2,
What are free goods 3
24
cards
Chapter 2
Blank 1,
What is resource allocation 2,
What is a market economy 3
21
cards
Chapter 3
What is demand 1,
What are the factors that influen...,
What is market demand 3
18
cards
Chapter 4
What is a competitive market 1,
What are the factors that influen...,
What would happen to supply if pr...
13
cards
Chapter 5
What is market equilibrium 1,
What is excess supply 2,
What is excess demand 3
9
cards
Chapter 6
What does elasticity mean 1,
What is the price elasticity of d...,
What does elastic mean 3
24
cards
Chapter 7
What is marginal principle 1,
What is rational decision making 2,
What assumption is made about the...
14
cards
Chapter 8
What is market failure 1,
What is marginal social benefit m...,
What is marginal social cost msc 3
19
cards
Chapter 9
What is asymmetric information 1,
How does asymmetric information a...,
How does asymmetric information a...
22
cards
Chapter 10
What is indirect tax 1,
What is direct tax 2,
Who pays the tax that is put on g...
31
cards
Chapter 11
What is a firm business 1,
What does short run mean 2,
What does long run mean 3
43
cards
Chapter 12
At what level will profits be max...,
What is the principal agent probl...,
What causes the principal agent p...
21
cards
Chapter 13
What is market structure 1,
What is the summary of perfect co...,
What is the summary of monopoly 3
22
cards
Chapter 14
What is a monopoly 1,
What are the assumptions for a mo...,
What are the barriers to entry of...
37
cards
Chapter 15
What is monopolistic competition 1,
What are the characteristics of m...,
What is product differentiation 3
34
cards
Chapter 16
What is derived demand 1,
What is the marginal revenue prod...,
What is the marginal revenue prod...
10
cards
Chapter 17
Why is the labour supply curve un...,
What is the effect of the wage ra...,
How does individual labour supply...
17
cards
Chapter 18
How does labour market equilibriu...,
How does an increase in demand fo...,
How does an increase in supply of...
25
cards
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Microeconomics
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