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1.1 MICROeconomics (The nature of economics)

This class was created by Brainscape user Nikola Topo. Visit their profile to learn more about the creator.

By: Nikola Topo
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Decks in this class (6)

1.1.1 Economics as a social science
Ceteris paribus
1  cards
1.1.3 The economic problem
Opportunity cost,
4 factors of production,
Renewable resources
4  cards
1.1.2 Positive and Normative Economics
Positive statement,
Normative statement,
Role of value judgements in influ...
3  cards
1.1.4 Production Possibility Frontiers
What does a production possibilit...,
Outcomes on a ppf,
What shows economic growth on a ppf
8  cards
1.1.5 specialisation And Division Of Labour
What is specialisation,
What is division of labour,
Advantages of specialisation and ...
9  cards
1.1.6 Types of economy
What is a command economy,
What are the advantages of a comm...,
What are the disadvantages of a c...
8  cards

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1.1 MICROeconomics (The nature of economics)

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