This class was created by Brainscape user Lucy Marray. Visit their profile to learn more about the creator.
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Lucy Marray
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Decks in this class (14)
Micro-Basic economic problem:What is an economy
What is an economy,
What are the factors of production,
Define labour
10
cards
Micro-Basic economic problem: social science
What is the basic economic problem,
What is the study of ecomics fund...,
Why do econmoists build models
8
cards
Micro-Basic economic problem: Positive & normative economic statements
What role do economists have with...,
What is a positive statement,
What is a normative stamnet
5
cards
Micro- economic problem: PPF ( some micro)
Define ppf,
When is the ppf a straight line,
What is the law of diminishing re...
13
cards
Micro-Measuring economic performance: Specialisation
What is,
What are the benefits of speciali...,
Explain the benefits of higher ou...
11
cards
Micro-Measuring economic performance: Division of Labour
Define division of labour,
Explain the advantages of workers...,
Explain the benefits of specialed...
5
cards
Macro: Economic growth-GDP
Define human capital,
What equation shows the nature of...,
What is the expenditure method
12
cards
Macro: GDP-How to make comparisons between countries?
What does gdp per capita adjusted...,
Why is gdp per capita adjusted fo...,
Define gni
22
cards
Macro: Economic growth
Define an economic indicator,
Define policy objective,
What are the 4 main microeconomic...
21
cards
Micro: Money
What are the function of money
1
cards
Macro-inflation
Define price level,
Define inflation,
Define deflation
33
cards
Micro: demand-consumer surplus
Define consumer surplus,
How do you do you find consumer s...
2
cards
Micro:Demand
Define demand,
When we define demand we are talk...,
When is demand effective
16
cards
Micro:Elasticity-Price Elasticity of Demand
What is price elasticity of demand,
How is the coefficient of price e...,
What is the typical coefficient o...
26
cards
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Economics
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