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Paper 1 Economics
> Demerit goods and merit goods > Flashcards
Demerit goods and merit goods Flashcards
Marginal analysis and market failure -> Market failure and government intervention in markets -> Microeconomics
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Paper 1 Economics
(25 decks)
Demand theory revisited
Rational economic decision making and economic incentives
Utility theory
Utility maximisation
Importance of the margin when making choices
The Importance of Information for Decision Making
The Significance of Asymmetric Information
Emergence of behavioural economics
Rational economic behaviour
Biases in decision making
Altruism and fairness
Choice architecture and framing
Market failure
Public and private goods
Externalities
Demerit goods and merit goods
Terms
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2.2
Price elasticity of supply
Healthcare markets
The role of the Gov in the mixed economy
Production, costs and revenue
Oligopoly