theme 1 econ: intro to markets and market failure

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Decks in this class (26)

1.1 NATURE OF ECONOMICS
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0  cards
1.1.1 Economics as a social science
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4  cards
1.1.2 Positive and normative economic statements
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4  cards
1.1.3 The economic problem
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12  cards
1.1.4 Production possibility frontiers
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5  cards
1.1.5 Specialisation and the division of labour
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13  cards
1.1.6 Free market economies, mixed economy and command economy
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16  cards
1.2 HOW MARKETS WORK
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0  cards
1.2.1 Rational decision making
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1  cards
1.2.2 Demand
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0  cards
1.2.3 Price, income and cross elasticities of demand
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0  cards
1.2.4 Supply
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0  cards
1.2.5 Elasticity of supply
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1.2.6 Price determination
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1.2.7 Price mechanism
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1.2.8 Consumer and producer surplus
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1.2.9 Indirect taxes and subsidies
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1.2.10 Alternative views of consumer behaviour
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1.3 MARKET FAILURE
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0  cards
1.3.1 Types of market failure
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5  cards
1.3.2 Externalities
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19  cards
1.3.3 Public goods
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8  cards
1.3.4 Information gaps
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7  cards
1.4 GOVERNMENT INTERVENTION
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0  cards
1.4.1 Government intervention in markets
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7  cards
1.4.2 Government failure
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0  cards

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theme 1 econ: intro to markets and market failure

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