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Economics - year 12

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

By: Daniel Duggan
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Decks in this class (6)

Week 1 - nature of economics
What is a social science,
What is an economic model,
Why do economists use models
21  cards
Week 2 - production possibility frontiers
What is a productionpossibility f...,
Illustrate a point on the ppf atw...,
Illustrate a point on the ppfwhic...
22  cards
Week 3 - Specialisation and division of labour; rational behaviour; alternative views on consumer behaviour
Define division of labour,
What can division of labour lead to,
What is specilisation
25  cards
Week 4 - types of economies, money, demand and supply
Define effective demand,
Define potential demand,
Define demand
41  cards
Week 6 - supply, price determination, price mechanism
Define supply,
What is the law of supply,
What causes shifts in supply
12  cards
Week 7 - PED
What is the definition of price e...,
Give the formula for ped,
What is meant by price elastic de...
11  cards

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Economics - year 12

  • Class purpose General learning

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