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Liv Wood
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Decks in this class (25)
4.1.1.1 economic methodology
What is microeconomics,
Economics is a social science wha...,
Why does economics adopt a scient...
14
cards
4.1.1.2 the nature and purpose of economic activity
What is the purpose of economic a...,
Economists have to make decisions...,
How is the question what is to be...
5
cards
4.1.1.3 economic resources
What are the four factors of prod...,
What is land and what does it con...,
What are sustainable resources
10
cards
4.1.1.4 scarcity, choice and the allocation of resources
What is the basic economic problem,
What is the opportunity cost
2
cards
4.1.1.5 production possibility diagrams
What do production possibility fr...,
What does a ppf diagram look like,
What are the most efficient point...
15
cards
4.1.2.1 consumer behaviour
0
cards
4.1.2.2 imperfect information
0
cards
4.1.2.3 aspects of behavioural economic theory
0
cards
4.1.2.4 behavioural economics and economic policy
0
cards
4.1.3.1 the determinants of the demand for goods and services
What is demand,
What does the law of demand state,
Why is the demand curve downward ...
21
cards
4.1.3.2 price, income and cross elasticities of demand
What is ped,
What is the formula for ped,
Is the value of price elasticity ...
47
cards
4.1.3.3 the determinants of the supply of goods and services
What is supply,
Why are supply curved upward sloping,
What does the law do supply state
8
cards
4.1.3.4 price elasticity of supply
What is pes,
What s the formula for pes what v...,
What happens with price elastic s...
11
cards
4.1.3.5 the determination of equilibrium market prices
What happens at equilibrium,
What is the free market,
What happens in a free market
9
cards
4.1.3.6 the interrelationship between markets
Changes in one market are likely ...,
What is derived demand,
What is composite demand
5
cards
4.1.8.1 how markets and prices allocate resources
Hello,
What is the rationing function,
What is the incentive function
8
cards
4.1.8.2 the meaning of market failure
When does market failure occur,
What are externalities,
What are negative externalities
10
cards
4.1.8.3 public goods, private goods and quasi-public goods
What are public goods,
What does it mean for a good to b...,
What does it mean for a good to b...
9
cards
4.1.8.4 positive and negative externalities in consumption and production
What are externalities,
What are positive externalities,
What are negative externalities
19
cards
4.1.8.5 merit and demerit goods
What are negative externalities c...,
What are positive externalities c...,
What does the extent of market fa...
4
cards
4.1.8.6 market imperfections
What is symmetric information,
What is asymmetric information,
What is imperfect information
13
cards
4.1.8.7 competition policy
0
cards
4.1.8.8 public ownership, privatisation, regulation and deregulation of markets
0
cards
4.1.8.9 government intervention in markets
Why do governments intervene in t...,
What are indirect taxes,
There are two types of indirect t...
22
cards
4.1.8.10 government failure
When can governments fail what ca...,
What are the four causes of gover...,
How does the distortion of price ...
6
cards
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