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Microeconomics, Institutions and Wellfare

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

By: Alieson Schofield
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Decks in this class (9)

Unit 2 - Technology, Population and Growth
What is an isocost line,
What is the malthusian trap,
What is economic rent
4  cards
Unit 3 - Scarcity, Work and Choice.
Currently you work for 40 hours p...,
What is a production function,
What is an average product
32  cards
Unit 4 - Social Interactions
Define social dilemma,
What is the tragedy of the commons,
Describe a free ride
24  cards
Unit 5 - Property and Power: Mutual Gains and Conflicts
Define institutions,
What is bargaining power,
Illustrate an allocation
15  cards
Unit 6 - The Firm: Owners, Managers and Employees
Extra info,
Extra info,
Define asymmetric information
17  cards
Unit 7 - The Firm and its Customers
0  cards
Unit 8 - Supply and Demand: Price-Taking and Competitive Markets
Define excess demand,
What is excess supply,
Describe a price taker
11  cards
Unit 11 - Rent-Seeking, Price-Setting and Market Dynamics
0  cards
Unit 12 - Markets, Efficiency and Public Policy
Define a market failure,
Define marginal private cost mpc,
Define marginal social cost msc
4  cards

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Microeconomics, Institutions and Wellfare

  • Class purpose General learning

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