This class was created by Brainscape user Sam Atkinson. Visit their profile to learn more about the creator.
By:
Sam Atkinson
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Decks in this class (15)
Basic Economic Problem
What is the basic economic econom...,
What are economic resources,
What are the 4 factors of production
16
cards
Positive and Normative Statements
What type of science is economics,
What is a social science,
What is demand theory
5
cards
PPF
What does a ppf curve show,
What can the shape of a ppf tell us,
Where can a firm produce in relat...
13
cards
Demand and the Demand Curve
What is demand,
What is the law of demand,
What is ceterus paribus
16
cards
Supply and the Supply Curve
What is supply,
What is the law of supply,
Why does the supply curve slope u...
17
cards
Market Equilibrium
What is a free market,
What is market equilibrium,
What does equilibrium represent
7
cards
Interrelationships of Markets
What is joint demand,
What is competitive demand,
What is derived demand
5
cards
Price Elasticity of Demand
What is the rule of demand,
What is ped,
What is the formula for ped
20
cards
Income Elasticity of Demand
What is yed,
What is the formula for yed,
What is a normal good
10
cards
Cross Price Elasticity of Demand
What is cped,
What is the formula for cped,
What cped value do unrelated good...
13
cards
Price Elasticity of Supply
What is pes,
What does a pes value of 0 mean,
What does a pes value of 0 1 mean
16
cards
Macroeconomic Objectives
What are the 3 macroeconomic obje...,
What are 4 other objectives,
What is meant by economic growth
9
cards
Macroeconomic Indicators
What is real gdp,
What is real gdp per capita,
What is cpi
8
cards
Index Numbers
Why are index numbers used,
What is the base year,
What value is given to the base year
5
cards
Circular Flow of Income
What is the circular flow of income,
What is consumer expenditure,
What are factor incomes
16
cards
More about
Economics
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