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Decks in this class (20)
Ch. 1 - Core Principles
What is the cost benefit principle,
What is economic surplus,
What is the opportunity cost prin...
12
cards
Ch. 2 - Demand & Supply
What is an individual demand curve,
What is the law of demand,
What is the rational rule for buyers
11
cards
Ch. 3 - Supply & Producer Choice
What is an individual supply curve,
What is the law of supply,
What is perfect competition what ...
13
cards
Ch. 4 - Equilibrium
What are planned economies,
What are market economies,
What is a market
8
cards
Ch. 5 - Elasticity
What is the price elasticity of d...,
What does it mean for demand to b...,
What does it mean for demand to b...
12
cards
Ch. 6 - Taxes, Price Controls, & Quantity Regulations
Which way does a tax on buyers sh...,
What is a statutory burden what i...,
What is tax incidence
7
cards
Ch. 7 - Market Efficiency & Failure
What is positive analysis what is...,
What is economic efficiency effic...,
What is consumer surplus producer...
11
cards
Ch. 8 - Gains from Trade
What are gains from trade,
What is an absolute advantage wha...,
What are the 3 central roles of p...
6
cards
Ch. 9 - International Trade
What is importing exporting,
What are trade costs,
What is world price
11
cards
Ch. 10 - Externalities & Public Goods
What i,
What is a negative externality a ...,
Why do positive externalities sti...
23
cards
Ch. 11 - The Labour Market
What is the marginal product of l...,
What is the marginal revenue product,
How do you calculate the marginal...
9
cards
Ch. 12 - Why Wages Vary
What is human capital,
What is a signal,
What is an efficiency wage
14
cards
Ch. 13 - Inequality
What is income,
What is wealth,
What is permanent income
20
cards
Ch. 14 - Market Structure & Degrees of Market Power
What is market power,
What is perfect competition,
What is a monopoly
12
cards
Ch. 15 - Entry, Exit, Long-Run Profitability
What is accounting profit,
What is economic profit,
What is average revenue
12
cards
Ch. 16 - Price Discrimination & Pricing Strategies
What is price discrimination,
What is a reservation price,
What is perfect price discrimination
8
cards
Ch. 17 - Economics of Strategic Management
What is the five forces framework,
What is price competition what is...,
What is a search good
9
cards
Ch. 18 - Game Theory and Strategic Choices
What are strategic interactions,
What is a payoff table,
What is the best response
20
cards
Ch. 19 - Decisions Involving Private Information
What is priviate information,
What is adverse selection of sellers,
What is adverse selection of buyers
9
cards
Ch. 20 - Decisions Involving Uncertainty
What is a fair bet,
What does risk averse mean,
What is expected utility
19
cards
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EC120
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