Microeconomic effects to consider Flashcards
1
Q
Micro effects to consider
A
1) Price
2) Quantity/quality
3) Elasticity
4) Demand/supply
5) Costs of production
6) Consumer/producer surplus
7) Revenue/profit
8) Government revenue/cost
9) Stakeholder impacts
10) Market failures (externalities?)
11) Government failure
12) Efficiency/productivity
13) Competition/market structure
14) Wages/employment
15) Equity/inequality (labour market)
