This class was created by Brainscape user Kiedi EVANS. Visit their profile to learn more about the creator.
By:
Kiedi EVANS
- decks
- flashcards
- learners
Decks in this class (18)
1.1 the economic problem
What is the basic economic problem 1,
What is scarcity 2,
What is an economic good 3
8
cards
1.2 resource allocation
What is a market economy what how...,
What are the advantages of a mark...,
What are the disadvantages of a m...
10
cards
1.3 opportunity cost
What is opportunity cost 1,
What is a ppc 2,
What do each points on a ppc show 3
4
cards
2.1 specialisation and trade
What is specialisation and divisi...,
What are the advantages of specia...,
What are the disadvantages of spe...
3
cards
2.2 demand
What is demand 1,
Why is the demand curve downwards...,
What are the types of demand 3
4
cards
2.3 supply
Why is the supply curve upwards s...,
What are the types of supply 2,
What causes a shift in supply 3
3
cards
2.4 consumer and producer surplus
What is consumers surplus 1,
Where is consumer surplus on a di...,
What will inelastic demand mean f...
9
cards
2.5 the interaction of markets
What is it called when supply is ...,
How does a shortage in the market...,
How does excess supply occur in a...
5
cards
2.6 elasticities
What is price elasticity of deman...,
What does price elastic mean and ...,
What does price inelastic mean an...
21
cards
2.7 the concept of the margin
What does the margin mean 1,
Why is the margin important 2
2
cards
2.8 market failure and externalities
What is market failure 1,
What is an externality 2,
What is a merit good 3
14
cards
2.9 information failure
What is asymmetric information 1,
What is moral hazard 2,
What does information failure lea...
3
cards
2.10 public goods
What are the characteristics of a...,
Why are public goods underprovide...,
What does non excludable mean 3
5
cards
2.11 government intervention to target market failure
What is an indirect tax 1,
What are the two types od indirec...,
What is the incidence of tax 3
37
cards
3.2 costs and
What is the difference between th...,
What is a fixed cost 2,
What is a variable cost 3
30
cards
3.3 revenue and profit
What is average revenue 1,
What is marginal revenue 2,
Where does maximum total revenue ...
8
cards
3.1 business objectives
What is profit maximisation 1,
Why would a firm want to profit m...,
What happens to the profit max ou...
23
cards
market structures
What is a market structure 1,
Where does perfect competition oc...,
What are the characteristics of p...
20
cards
More about
microeconomics
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Kiedi EVANS's microeconomics 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?
Microeconomics
- 19 decks
- 666 flashcards
- 989 learners
Decks:
Economic Methodology Scarcity Choice And, Producer Surplus, Intro To Supply And Demand, And more!
Microeconomics
- 41 decks
- 603 flashcards
- 73 learners
Decks:
The Economic Problem, Economics As A Social Science, Ppf, And more!
economics micro
- 85 decks
- 1217 flashcards
- 18 learners
Decks:
Demand Supply And Market Equilibrium, Key Phrases, Division Of Labour, And more!
