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susie cabral
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- flashcards
- learners
Decks in this class (23)
introduction to economics
Economics agent,
Positive statement,
Normative statement
7
cards
opportunity cost PPF curve 1.1.4
Consumer goods,
Capital goods,
Opportunity cost
8
cards
rational decision making 1.2.1
Rational decision making,
Utility,
Maximising utility
6
cards
demand 1.2.2
Demand,
Demand has to be,
Law of demand
10
cards
supply 1.2.4
Supply,
Law of supply,
Supply curve is upwards sloping b...
13
cards
PED 1.2.3
Law of demand,
Ped,
Ped
16
cards
PES 1.2.5
Pes definition,
Pes equation,
Greater than 1
13
cards
YED
Yed,
Yed equation,
Normal good
8
cards
Price determination market equilibrium 1.2.6
1
cards
consumer and producer surplus 1.2.8
Consumer surplus meaning,
Producer surplus
2
cards
indirect taxation 1.2.9
Indirect taxs,
Direct tax,
Indirect tax
5
cards
subsidies 1.2.9
Su,
A form of govt intervention tosol...,
X
3
cards
market failure and externalities 1.3.1 and 1.3.2
0
cards
causes of market failure 1.3.3
1
cards
causes of market failure information gaps 1.3.4
0
cards
govt intervention in markets - minimum pricing 1..4.1
0
cards
cross elasticity of demand XED
Xed measures,
Xed equation,
+
7
cards
efficiency
Allocative efficiency,
Allcocative efficiency occurs where
2
cards
price mechanism
What doesexcess demand do,
A 4,
S
5
cards
public goods
0
cards
information gaps
0
cards
minimum pricing
0
cards
government intervention in markets 1.4.1
State provision,
Information provision,
Regulations
3
cards
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microeconomics
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