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Yusuf Hamid
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Decks in this class (19)
LS1 Economics, Economy, Goods, Services
What is the economy 1,
What is the difference between a ...,
What are the factors of production 3
16
cards
LS2 Models In Economics
How do economists explain how the...,
How easy is it for economists to ...,
How do economists overcome the is...
4
cards
LS3 - Opportunity Cost
What is opportunity cost 1,
What are the 3 uses of opportunit...,
What is dynamic pricing 3
17
cards
LS4 - Positive and Normative Statements
What are positive economic statem...,
What is a normative economic stat...,
What do governments do when decis...
3
cards
LS5 - Specialisation
What is specialisation 1,
Why does specialisation allow ind...,
What is the uk specialised in 3
16
cards
LS6 - Economic Systems
What is planning according to eco...,
What is a market 2,
What is the price mechanism 3
25
cards
LS7 The Role Of The State In An Economy
What is the state made up of 1,
What is the government 2,
What is the difference between a ...
12
cards
LS8 - Demand
What is demand 1,
Why is the public sector less eff...,
Why do consumers fail to make rat...
14
cards
LS9 - Supply
What is revenue what is the equat...,
What is supply 2,
What does the law of supply state 3
13
cards
LS10 & LS16- Price Determination & Mechanism
What is excess demand 1,
What is excess supply 2,
What is equilibrium and disequili...
15
cards
LS11 - Taxes And Subsidies
What is direct tax 1,
What is an indirect tax 2,
What is specific tax 3
19
cards
LS12 - Price Elasticity of Demand
What is price elasticity of demand 1,
When is demand price elastic 2,
When is demand price inelastic 3
25
cards
LS13 - Price Elasticity of Supply
What is the price elasticity of s...,
When is supply price elastic 2,
When is supply price inelastic 3
20
cards
LS14 - Consumer Surplus and Producer Surplus
What is consumer surplus 1,
What is producer surplus 2,
Where is consumer producer surplu...
14
cards
LS15 - XED and YED
What is the formula for xed 1,
What is the cross price elasticit...,
What does it mean if xed is posit...
11
cards
LS17-19 - Market Failure and Externalities, Public Goods, Information Gaps
What is external cost 1,
What is external benefit 2,
What are the 3 types of market fa...
29
cards
LS20 - Max and Min Prices
What makes a firm qualify as a le...,
What happens when a firm owns ove...,
What happens when a maximum price...
26
cards
LS21-22 - TPP, Regulation
What are tradable pollution permi...,
How do tpps punish heavy polluter...,
What are the advantages of the em...
20
cards
LS23 - Government Failure
What is government failure 1,
What are the causes of government...,
What are unintended consequences 3
6
cards
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Econ Theme 1: Introduction to Markets and Market Failure
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