This class was created by Brainscape user Liv Wood. Visit their profile to learn more about the creator.
By:
Liv Wood
- decks
- flashcards
- learners
Decks in this class (25)
4.1.1.1 economic methodology
What is microeconomics,
Economics is a social science wha...,
Why does economics adopt a scient...
14
cards
4.1.1.2 the nature and purpose of economic activity
What is the purpose of economic a...,
Economists have to make decisions...,
How is the question what is to be...
5
cards
4.1.1.3 economic resources
What are the four factors of prod...,
What is land and what does it con...,
What are sustainable resources
10
cards
4.1.1.4 scarcity, choice and the allocation of resources
What is the basic economic problem,
What is the opportunity cost
2
cards
4.1.1.5 production possibility diagrams
What do production possibility fr...,
What does a ppf diagram look like,
What are the most efficient point...
15
cards
4.1.2.1 consumer behaviour
0
cards
4.1.2.2 imperfect information
0
cards
4.1.2.3 aspects of behavioural economic theory
0
cards
4.1.2.4 behavioural economics and economic policy
0
cards
4.1.3.1 the determinants of the demand for goods and services
What is demand,
What does the law of demand state,
Why is the demand curve downward ...
21
cards
4.1.3.2 price, income and cross elasticities of demand
What is ped,
What is the formula for ped,
Is the value of price elasticity ...
47
cards
4.1.3.3 the determinants of the supply of goods and services
What is supply,
Why are supply curved upward sloping,
What does the law do supply state
8
cards
4.1.3.4 price elasticity of supply
What is pes,
What s the formula for pes what v...,
What happens with price elastic s...
11
cards
4.1.3.5 the determination of equilibrium market prices
What happens at equilibrium,
What is the free market,
What happens in a free market
9
cards
4.1.3.6 the interrelationship between markets
Changes in one market are likely ...,
What is derived demand,
What is composite demand
5
cards
4.1.8.1 how markets and prices allocate resources
Hello,
What is the rationing function,
What is the incentive function
8
cards
4.1.8.2 the meaning of market failure
When does market failure occur,
What are externalities,
What are negative externalities
10
cards
4.1.8.3 public goods, private goods and quasi-public goods
What are public goods,
What does it mean for a good to b...,
What does it mean for a good to b...
9
cards
4.1.8.4 positive and negative externalities in consumption and production
What are externalities,
What are positive externalities,
What are negative externalities
19
cards
4.1.8.5 merit and demerit goods
What are negative externalities c...,
What are positive externalities c...,
What does the extent of market fa...
4
cards
4.1.8.6 market imperfections
What is symmetric information,
What is asymmetric information,
What is imperfect information
13
cards
4.1.8.7 competition policy
0
cards
4.1.8.8 public ownership, privatisation, regulation and deregulation of markets
0
cards
4.1.8.9 government intervention in markets
Why do governments intervene in t...,
What are indirect taxes,
There are two types of indirect t...
22
cards
4.1.8.10 government failure
When can governments fail what ca...,
What are the four causes of gover...,
How does the distortion of price ...
6
cards
More about
MICRO ECONOMICS
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Liv Wood's MICRO ECONOMICS flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
AP Microeconomics
- 10 decks
- 428 flashcards
- 219 learners
Decks:
Introduction, Consumer Theory, Producer Theory, And more!
Micro Economics
- 57 decks
- 590 flashcards
- 3 learners
Decks:
Law Of Diminishing Returns, Fixed And Variable Costs Afc Tfc Avc, Marginal Costs Average Costs, And more!
MICRO
- 22 decks
- 2879 flashcards
- 8 learners
Decks:
Ch2 Innate Immunity, Ch3 Lymph Mhc Antigen Presentation, Ch4 B Cells, And more!
