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Econ Unit 1 + Macroeconomics

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

By: Eric Ernest
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Decks in this class (13)

Micro and Macroeconomics
Define
2  cards
S&D Graphs
What is a demand curve,
What is a supply curve,
Ceteris parabus meaning
16  cards
Income and Substitution Effect
What is the income effect,
What is the substitution effect,
What percent of public housing is...
3  cards
Markets
What are the three elements of a ...,
What are the two types of markets,
What is a product market
7  cards
Factors of Production
What does land refer to,
What does labour refer to,
Capital
4  cards
Production Possibility Frontier (PPF)
What is the ppf,
What does the ppf model assume,
What does the middle point of the...
10  cards
Marginal Analysis
What is marginal analysis,
What principle is based on margin...
2  cards
Elasticity of Demand
What is elasticity of demand,
Elastic demand occurs when the ne...,
When does inelastic demand occur
11  cards
Price Elasticity of Supply
What is price elasticity of suppl...,
What can producers do if supply i...,
What can producers do if supply i...
9  cards
Price Discrimination/Government Taxes
What is price discrimination used...,
Explain the price elasticity of d...,
What is the
9  cards
Test 2 - Market Efficiency and Elasticity
Elasticity of demand,
What is elastic demand,
What is inelastic demand
44  cards
ER 3 - Chapter 4, 5
What is a competitive market able...,
Market efficiency meaning,
Deadweight loss definition
14  cards
Economics test - Macroeconomics, economic growth, and inflation
Macroeconomics definition,
The circular flow model,
Two flows
52  cards

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Econ Unit 1 + Macroeconomics

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