This class was created by Brainscape user Jenna Kennedy. Visit their profile to learn more about the creator.
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Jenna Kennedy
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Decks in this class (12)
Unit 1 Economic Profit
Definition of economics,
Scarcity is,
What is the big trade off
16
cards
Unit 2 Supply and Demand
Demand and the law of demand,
The demand curve has,
Inferior and normal goods
14
cards
Unit 3 Elasticity
What is the price elasticity of d...,
Why is the elasticity of demand a...,
Quantity demanded
14
cards
ECON101 Unit 4
Eight methods of allocating scarc...,
What is the difference between in...,
What is the equation for consumer...
17
cards
ECON101 Unit 5
What is the connection between pr...,
The legal price does not eliminat...,
Fairness of a rent cieling
19
cards
ECON101 Unit 6
What is a budget line and what do...,
What is utility and total utility,
True or false total utility decre...
17
cards
ECON101 Unit 7
What does budget equation state,
What does the budget equation inc...,
How do changes in price effect th...
20
cards
ECON101 Unit 8
What is the definition of a firm,
What is the difference between ac...,
Three constraints limiting profit...
16
cards
ECON101 Unit 9
What is perfect competition and w...,
Is each firm a price taker in per...,
Why must firms accept market price
21
cards
ECON101 Unit 10
What is a monopoly,
What is a monopoly the opposite of,
What are the three types of barri...
17
cards
ECON101 Unit 11
What is monopolistic competition,
With many firms what implications...,
How can differentiated products look
13
cards
ECON101 Unit 12
What is an oligopoly what are its...,
What is a duopoly,
How do the two barriers to entry ...
27
cards
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Economics
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