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Micro economics

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

By: Unknown Unknown
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Decks in this class (8)

Market mechanism, Market failure and Government intervention
Price,
Price mechanism,
Name three functions of price mec...
78  cards
The distribution of income and wealth: poverty and inequality
Factors affecting distribution of...,
Lorenz curve,
What does lorenz curve look like
21  cards
The labour market
Derived demand,
Marginal productivity theory,
Mrpl
44  cards
Perfect competition, imperfectly competitive markets and monopoly
Objective of firms,
When is sales maxmised,
When is profit maxmised
47  cards
Production, costs and revenue
Economies of scale,
Internal economies of scale,
External economies of scale
14  cards
Price determination in a competitive market
Demand,
Demand curve,
Income effect
38  cards
Individual economic decision making
Key assumptions in economic theory,
How does information have an effe...,
Asymmetric information
16  cards
Economic methodology and the economic problem
Why is economics a social science,
Economic methodology,
Ceteris paribus
12  cards

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Micro economics

  • Class purpose General learning

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