Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics > Economic Calculations > Flashcards

Economic Calculations Flashcards

1
Q

Percentage change

A

New Value-Old Value
——————————— x100
Old Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Index Number

A

Raw Number
———————————- x100
Base Year Raw Number

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Mean

A

(Sum of all values)
—————————
(Number of values)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Median

A

-Arrange Data in order smallest to biggest
-Identify middle number by crossing out numbers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Concentration Ratio

A

The collective market share of the largest firms in an industry

Number of firms : Total Market Share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Elasticity of Demand (PED)

A

Percentage change in Quantity Demanded
———————————————-
Percentage change in Price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

GDP per capita

A

GDP
———-
Population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Elasticity of Supply (PES)

A

Percentage Change in Quantity
supplied
———————————————
Percentage Change in Price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Cross Elasticity of Demand (XED)

A

Percentage change in quantity demanded of good A
———————————————
Percentage change in price of
good B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Income Elasticity of Demand (YED)

A

Percentage change in quantity demand
————————————————
Percentage change in income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Economics (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions