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Microeconomics > The price mechanism > Flashcards

The price mechanism Flashcards

Study These Flashcards

Microeconomics (19 decks)

The economic problem

Production possibility frontiers

Types of economy

Rational decision making

Price elasticity of demand

Income and cross elasticities

Price determination

Indirect taxes and subsidies

Alternative view of consumer behaviour

The price mechanism

Types of market failure

Information gaps

Public and merit goods

Government intervention in markets

Government failure

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