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Economics 101

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

By: Katherine Silverman
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Decks in this class (12)

Chapter 1: The Big Ideas of Economics
What is economics,
Households,
Society
18  cards
Chapter 2: How to Think Like an Economist
What do economists do,
What is a theory,
What term do economists use inste...
20  cards
Chapter 3: Gains from Trade and Comparative Advantage
What is trade,
Why do individuals engage in trade,
What are the two types of advanta...
11  cards
Chapter 4: Supply and Demand
What is a market,
When does a market become competi...,
Supply
25  cards
Chapter 5: Equilibrium
What is market equilibrium,
What is shown at the intersection...
13  cards
Chapter 6: Elasticity
What is elasticity in economic terms,
What are the main types of elasti...,
How is price elasticity of demand...
31  cards
Chapter 7: Price Control and Taxes
What is a price control,
What is a price ceiling,
What is the difference between a ...
24  cards
Chapter 8: Consumer and Producer Surplus
What is welfare economics,
What is willingness to pay,
How is consumer surplus calculated
22  cards
Chapter 9: Taxes
What does this chapter examine re...,
What is a unit tax,
How does a tax create a price wedge
27  cards
Chapter 10: Trade
What is comparative advantage,
What does the domestic price repr...,
What is the world price
25  cards
Chapter 11: Externalities
What is an externality,
What are negative externalities,
What are positive externalities
33  cards
Chapter 12: Public Goods and Resources
What are the four types of goods ...,
Define a private good and give an...,
What is a club good natural monop...
26  cards

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Economics 101

  • Class purpose General learning

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