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Economy 101 - Principles of Microeconomics

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

By: Haider Mohammad
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Decks in this class (6)

Chapter 1 - Economics: Foundations and Models
Economics,
Scarcity,
Economic model
39  cards
Chapter 2 - Trade-offs, Comparative Advantage, and the Market System
Why does scarcity require trade offs,
Production possibilities frontier...,
Opportunity cost
25  cards
Chapter 3 - Where Prices Come From: The Interaction of Demand and Supply
Demand schedule,
Quantity demanded,
Demand curve
43  cards
Chapter 4 - Economic Efficiency, Government Price Setting, and Taxes
Price ceiling,
Price floors,
What happens when government impo...
23  cards
Chapter 6 - Elasticity: The Responsiveness of Demand and Supply
Elasticity,
Price elasticity of demand,
Price elasticity of demand formula
28  cards
Chapter 8 - Consumer Choices and Behavioral Economics
0  cards

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Economy 101 - Principles of Microeconomics

  • Class purpose General learning

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