SEM 1 DEFINITIONS Flashcards
1
Q
Barriers to entry
A
2
Q
Complementary Goods
A
2
Q
Ceterus Paribus
A
3
Q
Subsititure goods
A
4
Q
private goods
A
5
Q
club goods
A
5
Q
public goods
A
6
Q
common reosurce goods
A
7
Q
normal goods
A
8
Q
inferior goods
A
9
Q
consumer surplus
A
10
Q
DWL
A
10
Q
Supply
A
10
Q
producer surplus
A
11
Q
Demand
A
12
Q
Equilirum
A
13
Q
Disequlibrium
A
14
Q
Contraction
A
15
Q
Efficency
A
16
Q
Expansion
A
17
Q
Elasticity
A
18
Q
Factors Market
A
19
Q
Products Market
A
20
Q
Marginal benefit
A
20
Q
Inelastic
A
21
Q
marginal cost
A
21
Q
oppurtunity cost
A
22
Q
makret power
A
22
Q
market failure
A
23
Q
externalities
A
24
Q
scarcity
A
25
Q
subsititution and income effect
A
26
Q
A
26
Q
A
26
Q
tax incidence
A
27
Q
subsidy
A
28
Q
rival
A
29
Q
excludable
A
