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Ece Ahsak
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Decks in this class (18)
Production possibility diagrams
Define ppb 1,
Factors shifting ppb to the right 2,
Define productive efficiency 3
4
cards
value judgments, positive & normative statements
Define value judgement 1,
Define normative statement 2,
Define positive statement 3
9
cards
Supply
What are the functions of price 1,
Define supply 2,
Define extension 3
15
cards
Consumer and producer surplus
Define consumer surplus 1,
Define producer surplus 2,
If ped is inelastic 3
4
cards
Market failure
Define market failure 1,
Define complete missing market 2,
Define partial missing market 3
12
cards
Government failure
Define government failure 1,
Factors 2,
Define conflicting objectives 3
4
cards
Positive and negative externalities
Define mpc 1,
Define mec 2,
Define msc 3
16
cards
Incidence of tax
What does tax shift 1,
What does the triangle represent 2,
Incidence of tax 3
4
cards
Subsidies
Define subsidy 1,
Subsidy to producer 2,
Subsidy to consumer 3
5
cards
Price controls
Define minimum price 1,
Effects 2,
Evaluation of price controls 3
3
cards
Consumer behaviour
Define rational behaviour 1,
Define marginal utility 2,
Define marginal 3
5
cards
Imperfect Information
Define asymmetric information 1,
Define information gap 2
2
cards
Behavioural Economic Theory
Define behavioural economics 1,
Define bounded irrationality 2,
Define bounded self control 3
15
cards
Production and productivity
Division of labour 1,
Pro s 2,
What does it increase 3
4
cards
Costs
Define fixed costs 1,
Define semi variable costs 2,
Define fixed costs 3
13
cards
Economies and diseconomies of scale
Define economies of scale 1,
Define internal eos 2,
Define external eos 3
11
cards
Returns to scale
Define increasing returns to scale 1,
Define decreasing returns to scale 2,
Define constant returns to scale 3
4
cards
Technological change
Define technological change 1,
Effects of tc on methods of produ...,
Define productive effeciency 3
7
cards
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Microeconomics
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