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Microeconomics

This class was created by Brainscape user Nana-Abena Davis. Visit their profile to learn more about the creator.

By: Nana-Abena Davis
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Decks in this class (19)

Chapter 1 - Economics and Life
What are economics,
What are resources,
What is opportunity cost
11  cards
Chapter 3 - Markets
0  cards
Chapter 4 - Elasticity
What is elasticity,
What is price elasticity of demand,
What is the mid point method
12  cards
Chapter 5 - Efficiency
What is efficiency,
What is surplus,
Willingness to pay reservation price
10  cards
Chapter 6 - Government Intervention
Market failures,
Price control,
Price ceiling
11  cards
Chapter 7 - Consumer Behavior
Utility,
Revealed preference,
Utility function
12  cards
Chapter 8 - Behavioral Economics: A Closer Look at Decision Making
Behavioral economics,
Time inconsistency,
Commitment device
5  cards
Chapter 9 - Game Theory and Strategic Thinking
Game,
Game theory,
Behaving strategically
11  cards
Chapter 12 - The Costs of Production
Total revenue,
Total cost,
Profit
20  cards
Chapter 13 - Perfect Competition
Competitive market,
Market power,
Average revenue
4  cards
Chapter 14- Monopoly
Monopoly,
Natural monopoly,
Price discrimination
3  cards
Chapter 15- Monopolistic Competition and Oligopoly
Oligopoly,
Monopolistic competition,
Product differentiation
8  cards
Exam 2 review
Utility is useful in describing what,
What does altruism describe,
Procrastination can be seen as ir...
66  cards
Chapter 10- Information
Complete information,
Information asymmetry,
Adverse selection
9  cards
Chapter 18- Externalities
Private costs,
External costs,
Social cost
13  cards
Chapter 19 - Public Goods and Common Resources
Excludable,
Rival in consumption rival,
Private goods
8  cards
Chapter 2- Specialization and Exchange
Production possibilities frontier...,
Efficient points,
Absolute advantage
6  cards
Chapter 20 - Taxation
Deadweight loss,
Lump sum tax head tax,
Administrative burden
18  cards
Formulas
1  cards

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Microeconomics

  • Class purpose General learning

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