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Economy

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

By: Estefania Rosario
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Decks in this class (21)

Chapter 1 - Wheelan
Who feeds paris,
Scarcity,
Economy
47  cards
Chapter 2 Wheelan
Perverse incentives law of uninte...,
What is the problem with a unifor...,
What does a teachers uniform pay ...
45  cards
Chapter 3 - Wheelan
Externality,
When an externality is high large...,
Markets fail bc
25  cards
Froeb Ch 2
Goal,
How is wealth created,
Value
37  cards
Demand and Supply
Demand curve,
Quantity demanded,
Demand curve horizontally
55  cards
Ch. 3 Froeb
Opportunity cost,
Explicit costs,
Accounting profit
6  cards
Elasticity of Demand
Demand curve is elastic when,
Inelastic,
Elasticity
12  cards
Commodity Taxes
Commodity tax,
Tax on suppliers,
Tax on buyers
6  cards
Ch. 7 Economies of Scale and Scope
Bottleneck,
Law of diminishing returns,
Increasing marginal costs lead to
47  cards
Ch. 9
Long run,
Short run,
In macroeconomics the long run is...
65  cards
Ch. 12 More realistic and Complex Pricing
for commonly owned substitutes
12  cards
Ch. 12 More realistic and Complex Pricing for commonly owned complements
After acquiring a complementary p...,
When mr rises above mc output should,
A top producer of tennis balls ha...
4  cards
Ch. 12 continued
Products like cruise ships parkin...,
Extent decision for industries li...,
The relevant costs and benefits o...
40  cards
Ch 13 Direct Price Discrimination
Price discrimination uses,
Motivation for price discrimination,
Price discrimination is the pract...
27  cards
Ch. 14 indirect price discriminatipn
Price discrimination indirect,
Indirect price discrimination,
Example of coupons
22  cards
Ch. 15 strategic games
Nash equillibrium,
Sequential move games,
Equilibrium path of the game
8  cards
Chapter 16
Strategic views,
Other bargaining view,
Strategic view of bargaining
19  cards
ch 17
Risk averse,
Risk neutral,
Risk loving
28  cards
Ch. 18
Oral auction or english auction,
Three bidders with values of 5 10...,
Two bidders are participating in ...
39  cards
Ch. 19 adverse selection
Adverse selection refers to a sit...,
Adverse selection occurs when ___...,
Adverse selection per book
74  cards
Ch. 20
Extent decision,
For extent decisions we break the...,
Maxim
54  cards

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Economy

  • Class purpose General learning

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