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Omar Moti
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Decks in this class (24)
Micro 1 - 5
Why is economics a social science,
What is a model,
Why do economists make models
57
cards
Micro 6 - Demand
What is the consumers aim,
What is a firms aim,
What is the governments aim
23
cards
Micro 7 - Consumer surplus
Consumer surplus definition,
What is consumer surplus a measur...,
Where is consumer surplus illustr...
6
cards
Micro 8 - Supply WB Q"S NEEDED
ADD PRACTICAL WORKBOOK QUESTIONS
16
cards
Micro 9 - Producer surplus
Producer surplus definition,
How do you show producer surplus ...,
On a graph producer surplus is th...
5
cards
Micro 10 - Market Equilibrium
What is the market equilibrium,
What does market equilibrium resu...,
What happens when the market reac...
26
cards
Micro 11 - Interrelationship between markets
Price mechanism definition,
What 3 functions does price have ...,
What is the signalling function o...
16
cards
Micro 11 - Economic Systems
What is the market economy,
What allocates resources in the m...,
What economy is the uk
12
cards
Micro 12 - An Elasticities Experiment
What is price elasticity of demand,
How can ped be measured,
What does elastic mean
18
cards
Micro 13 - Price elasticity of demand
Price elastic definition,
Price elastic and inelastic diagrams,
Which 3 factors determine the pri...
5
cards
Micro 14 - Income elasticity of demand
How does yed data help firms who ...,
Evaluate yed,
3
cards
Micro 15 - cross elasticity of demand
Why is xed important to firms,
2
cards
Micro 16 - Price elasticity of supply
What is pes,
Pes calculation,
What are the determinants of pes
8
cards
Micro 17 - Application of markets to the real world
What are commodities,
Are commodities elastic or inelas...,
Why is the market of commodities ...
7
cards
micro 18 - externalities
Why do government intervene in ma...,
What is the definition of market ...,
What are the 2 types of externali...
22
cards
Micro 19 - Information failure.
What is the theory of externalities,
Why might there be market failure...,
What are demerit goods
15
cards
Micro 20 - Public goods
Define public goods,
Define private goods,
What does non excludable mean
11
cards
micro 21 - taxation
What do taxes achieve for the gov...,
What are the 2 main types of tax,
21
cards
Micro 22 - subsidies
What is definition of subsidies,
What is the purpose of a subsidy,
What are some examples of subsidi...
11
cards
Micro 23 - Alternative forms of government intervention.
Define regulation,
Why do governments impose regulat...,
How is regulation used to overcom...
61
cards
Micro 25 - marginal utility theory.
What is the concept of marginal u...,
Define the law of diminishing mar...,
Explain how the law of diminishin...
10
cards
Micro 26 - behavioural economics
Define behavioural economics,
What is behavioural economics about,
Why is human behaviour important ...
18
cards
micro 26-33 -- theory of the firm
Define short run,
Define long run,
What is the law of diminishing re...
87
cards
micro 34 - 40 theory of the firm
Define perfect competition,
What are the assumptions made abo...,
What is the shape of the ar curve...
9
cards
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Microeconomics OMAR
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