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Brad H
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Decks in this class (52)
What is Economics?
What is scarcity,
What are the three broad categori...,
What factors dose the resource of...
27
cards
The Complexity of Modern Economies
What is an economy,
Who organized the economy,
How is a market economy self orga...
35
cards
Is There an Alternative to the Market Economy?
What are three typos of economic ...,
What is a traditional economy,
What is a command economy
9
cards
Positive and Normative Statements
What is a normative statement,
What is a positive statement,
What dose the difference between ...
3
cards
Building and Testing Economic Theories
What are theories models,
What are variables,
What is a endogenous variable
15
cards
Economic Data
What is an index number,
How do we build an index number,
What is the formula for an index ...
9
cards
Graphing Economic Theories
What are theories built on,
What is a function and a function...,
What are the different ways we ca...
12
cards
Demand
What is a flow variable,
What is quantity demanded,
It is important to notice two thi...
34
cards
Supply
What is a general rule of thumb b...,
What is quantity supplied,
What is the difference between qu...
29
cards
The Determination of Price
Three conditions must be satisfie...,
For the sake of this course what ...,
What is a way that individual mar...
27
cards
4.1 Price Elasticity of Demand
When would we consider demand to ...,
When would we consider demand to ...,
What conditions must be fulfilled...
30
cards
4.2 Price Elasticity of Supply
What is price elasticity of supply,
Why do supply curves all have pos...,
At what points on the supply curv...
10
cards
4.3 Elasticity Matters for Excise Taxes
What is excise tax,
When dose excise tax occur
9
cards
4.4 Other Demand Elasticities
What are factors other then price...,
What is income elasticity of demand,
What is a normal good
11
cards
5.1 Government-Controlled Prices
What are government price controls,
When controls hold the price at s...,
What is a price floor
21
cards
5.2 Rent Controls: A Case Study of Price Ceilings
Why dose a shortage of rental hou...,
What dose a shortage in rental ac...,
What are some ways a black market...
23
cards
5.3 An Introduction to Market Efficiency
What dose the price of each unit ...,
What dose the lowest acceptable p...,
What is the reason the market sup...
29
cards
6.1 Marginal Utility and Consumer Choice
What is utility,
What is total utility,
What is marginal utility
13
cards
6A.1 Indifference Curves
What is an indifference curve,
What do the points above the curv...,
What do points below the indiffer...
13
cards
6.2 Income and Substitution Effects of Price Changes
What is purchasing power or real ...,
What is the substitution effect,
What does the substitution effect do
13
cards
6.3 Consumer Surplus
What is consumer surplus,
What is consumer surplus the diff...,
What do we call the sum of the va...
14
cards
6A.2 The Budget Line
What is a budget line and what do...,
The budget line has several impor...,
How do we measure the opportunity...
3
cards
7.1 What Are Firms?
What are ethe 6 different ways a ...,
What is a single proprietorship,
What is an ordinary partnership
23
cards
7.2 Production, Costs, and Profits
What dose each firm require to pr...,
What are the four broad categorie...,
What are intermediate products
34
cards
7.3 Production in the Short Run
What are fixed factors of production,
What are variable inputs,
The relation of output to changes...
12
cards
7.4 Costs in the Short Run
What are the different types of s...,
What is total cost tc,
What is total fixed cost tfc
17
cards
6A.3 The Consumer’s Utility-Maximizing Choices
Where is a consumers utility maxi...,
What is an income consumption line,
What does an income consumption l...
4
cards
8.1 The Long Run: No Fixed Factors
What is the difference between th...,
What is technical efficency,
What is an example of technical i...
24
cards
8.2 The Very Long Run: Changes in Technology
What changes dose improvements in...,
What is technological change,
What is the notion of productivity
14
cards
8A.1 Isoquants
What is an isoquant,
What is happening when we move fr...,
What is the marginal rate of subs...
13
cards
8A.2 Cost Minimization
What is an isocost line,
What does the slope of each isoco...,
What dose a series of parallel is...
13
cards
9.1 Market Structure and Firm Behaviour
What is market structure,
What is market power,
What does competitiveness in the ...
8
cards
9.2 The Theory of Perfect Competition
What is perfect competition,
What are the 5 assumptions of a p...,
What his a homogenous product
10
cards
9.3 Short-Run Decisions
Formula for economic profit,
What does it mean when a firm is ...,
What are the two questions we sho...
22
cards
9.4 Long-Run Decisions
How is the short long run of a si...,
What is zero profit equilibrium,
How do positive profits in an ind...
22
cards
10.1 A Single-Price Monopolist
What is a monopoly,
What is a monopolist,
What is a monopolist
34
cards
10.2 Cartels and Monopoly Power
What is a cartel,
What is a second way that a monop...,
If firms come together to form a ...
10
cards
10.3 Price Discrimination
What is price discrimination,
What is the difference between di...,
When is price discrimination poss...
18
cards
11.1 Imperfect Competition
What is an imperfectly competitiv...,
What are two common types of indu...,
What kind of industry is the majo...
20
cards
11.2 Monopolistic Competition
What is monopolistic competition,
This market structure is similar ...,
How is this market structure simi...
10
cards
11.3 Oligopoly and Game Theory
What is a oligopoly,
What kind of concentration ration...,
How is an oligopoly similar to a ...
16
cards
1.4 Oligopoly in Practice
What is collusion,
What is overt or covert collusion,
What is tacit collusion
12
cards
16.1 Basic Functions of Government
What is the governments monopoly ...,
Why is it important for the gover...,
According the adam smith what is ...
3
cards
16.2 The Case for Free Markets
Why are free markets impressive i...,
How do markets determine the dist...,
How have modern market economies ...
6
cards
16.3 Market Failures
What is market failure,
Is the statement that the economy...,
What are the four situations in w...
28
cards
16.4 Broader Social Goals
Describe the distribution of inco...,
Explain the difference between te...,
Example of a preference for publi...
6
cards
16.5 Government Intervention
How do governments determine whet...,
What is cost benefit analysis,
What are the three reasons it can...
16
cards
32.1 The Gains from Trade
What is a closed economy,
What are the basic benefits of trade,
What are gains from trade
24
cards
32.2 The Determination of Trade Patterns
What is the law of one price,
When do exports occur,
What kinds of goods are best for ...
12
cards
33.1 Free Trade or Protection?
What is a tariff,
What are non tariff barriers,
How does free trade affect a country
14
cards
33.2 Methods of Protection
What is a tariff,
Who takes on the deadweight loss ...,
What are the two ways domestic co...
13
cards
33.3 Current Trade Policy
What is an fta,
What is a customs union,
What is a common market
5
cards
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ECON 201
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