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By:
Gabriel Ng
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Decks in this class (15)
1 Introduction to Economics
Common Test 1
28
cards
2.2 Demand
Competitive market,
Demand,
Market demand
12
cards
Economics Essay Test (Supply-Demand Equilibrium)
Definition of equilibrium,
State the law of demand,
State the law of supply
5
cards
3.1 Price Elasticity of Demand
Definition of price elasticity of...,
What is it called when the ped of...,
What factors affect the price ela...
7
cards
3.2 Income Elasticity of Demand
What is the definition of income ...,
What factors affect yed,
What are some uses of ped to prod...
4
cards
3.3 Price Elasticity of Supply
What is the definition of price e...,
What factors affect pes
2
cards
4.2 Price controls
What are price controls,
What are the consequences of a pr...,
What is a price floor
9
cards
4.3 Indirect taxes
1
cards
7.3 Perfect competition
What are the assumptions made of ...,
Why is there normal profit in the...,
3
cards
7.4 Monopoly
What are the assumptions made of ...,
2
cards
Paper 3 Essay
Body paragraph 1,
Policy
2
cards
8.1 Economic activity
What does the circular flow of in...,
What happens when w j,
What happens when j w
3
cards
8.2 Measure of Economic Activity
Circular flow of income in terms ...,
Explain why the terms national in...,
Identify some reasons why it is u...
8
cards
8.3 Calculations based on national income accounting
Define gdp,
Define gni,
Outline how gdp and gni differ
5
cards
ALL DEFINITIONS PLS MEMORISE
Law of demand,
Law of diminishing marginal utility,
Law of supply
12
cards
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Economics Y5
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