This class was created by Brainscape user Karyma Injai. Visit their profile to learn more about the creator.
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Karyma Injai
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Decks in this class (13)
theme 1 key words
Ad valorem tax 1,
Asymmetric information 2,
Capital 3
79
cards
theme 2 key words
Macroeconomics 1,
Actual growth 2,
Aggregate demand ad 3
95
cards
1.1 nature of economics
What is a social science 1,
What is an economic model 2,
Why do economists use models 3
52
cards
1.2 demand and supply
What is utility 1,
What do consumers seek to maximise 2,
What do firms seek to maximise 3
27
cards
1.2 elasticities
What is the definition of price e...,
Give the formula for ped 2,
What is meant by price elastic de...
52
cards
1.3 market failure
What is the definition of market ...,
Name the types of market failure 2,
Explain what externalites are 3
45
cards
1.4 government intervention and failure
What is a tax 1,
What is the difference between an...,
What are the two types of indirec...
45
cards
2.1 economic performance
What is gross domestic product 1,
Explain the difference between re...,
Explain the difference between to...
65
cards
2.2 aggregate demand
What is aggregate demand 1,
What are 4 components of ad 2,
What of ad is comprised of each c...
52
cards
2.3 aggregate supply
What is the definition of aggrega...,
What are the axes of an as diagram 2,
How is the short run defined in e...
19
cards
2.4 national income
What is the circular flow of inco...,
Explain the circular flow of inco...,
Dicuss problems with the circular...
25
cards
2.5 economic growth
What causes economic growth 1,
Explain how land affects economic...,
Explain how size of the workforce...
8
cards
2.6 macroeconomic objectives and policies
What are the 7 macroeconomic obje...,
Explain economic growth as a macr...,
Explain low unemployment as a mac...
9
cards
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Y1 ECON
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