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Microeconomics

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

By: Jeremy Demers
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Decks in this class (13)

Chapter 1 - INTRODUCTION TO MICROECONOMICS
When the mix of goods produced re...,
All possible consumption combinat...,
Questions aimed at finding out wh...
61  cards
Chapter 2 - SUPPLY AND DEMAND
The assumption that no relevant e...,
Two goods that are often used tog...,
A leftward shift on the demand curve
47  cards
Chapter 3: ELASTICITY
A concept in economics that measu...,
When an increase in price reduces...,
When the elasticity of demand is ...
33  cards
Chapter 4: UTILITY MAXIMIZATION
The various combinations of two g...,
A graph of the possible options w...,
The point at which consumers are ...
25  cards
Chapter 5: THE PRODUCTION FUNCTION
An input into the production proc...,
A person who creates a business w...,
An organization that combines inp...
33  cards
Chapter 6: GAME THEORY
The language of strategic interac...,
An event in which participants su...,
A set of individuals making choic...
22  cards
Chapter 7: MARKET STRUCTURES, PERFECT COMPETITION, + LONG RUN SUPPLY
A market is more concentrated whe...,
The phenomenon in which the amoun...,
When a firm creates a new market ...
50  cards
Chapter 8: MONOPOLY + MARKET POWER
A situation in which multiple pro...,
A situation where a customer is a...,
An agreement that a dealer will s...
34  cards
Chapter 9: MONOPOLISITIC COMPETITION + OLIGOPOLY
Firms that charge market price be...,
Firms that can charge greater pri...,
A product that consumers perceive...
19  cards
Chapter 10: MARKET FAILURE
A good where the positive externa...,
Use by one person does not reduce...,
A good from which it is impossibl...
38  cards
Chapter 12: POVERTY, INEQUALITY, + DISCRIMINATION
A measure of a country s total ou...,
Total gdp divided by the population,
Lacking even the basic necessitie...
28  cards
Chapter 11: INTRODUCTION TO LABOR MARKETS
In economics how much employers v...,
Price in the labor market,
A demand for a commodity which is...
16  cards
Chapter 13: INTERNATIONAL TRADE
The expanding cultural political ...,
The goods and services that one p...,
The goods and services that one p...
29  cards

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Microeconomics

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