This class was created by Brainscape user Brannon Fell. Visit their profile to learn more about the creator.
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Brannon Fell
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Decks in this class (17)
1 - Economic Methodology
Why do economic choices have to b...,
What happens is we assume people ...,
What do ppf diagrams show
20
cards
2- Economic Decision Making
What is behavioural economics,
What does bounded rationality state,
What are these three factors
32
cards
3 - Price Determination
What is a competitive market,
How is price determined in a comp...,
What happens when price is increa...
83
cards
4 - Production, Costs and Revenue
0
cards
5 - Competitions and Monopolies
What are the main objectives of f...,
When does profit maximisation occur,
What is marginal revenue
223
cards
6 - Labour Market
0
cards
7 - Distribution of Wealth
0
cards
8 - Market Mechanism and Market Failure
When does market failure occur,
What does market failure distingu...,
What is partial market failure
174
cards
1 - Economic Methodology Definitions
Want,
Need,
Economic welfare
17
cards
2 - Economic Decision Making Definitions
Bounded rationality,
Bounded self control,
Rules of thumb
13
cards
3 - Price Determination Definitions
Effective demand,
Market demand,
Individual demand
36
cards
4 - Production, Costs and Revenue Definitions
Specialisation,
Division of labour,
Trade
43
cards
5 - Competitions and Monopolies Definitions
0
cards
6 - Labour Market Definitions
0
cards
7 - Distribution of Wealth Definitions
0
cards
8 - Market Mechanism and Market Failure Definitions
Market failure,
Complete market failure,
Partial market failure
31
cards
Example Bank
What is an example of a negative ...,
What is the annual cost to the nh...,
What is the overall cost to the t...
34
cards
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MicroEconomics
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