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    Trost, asf, Brunner, AntonioV.Saravia, Mohammed Husain, ShelbyD.Frost, ClayS.Turner, NA, GlenwoodRoss, FelixK.Rioja, Hussian, BruceKaufman, YongshengXu, AndrewT.Balthrop, SusanK.Laury, Staff, Martin, SallyWallace, GeoffreyK.Turnbull, AndrewT.Sumner, InasRashad, AubreyN.Underwood, BenjaminZ.Buckert, BarryT.Hirsch, LorenV.Buysman, ChristopherB.Wolfe, AndrewD.Kohr, CarterA.Doyle, RaganPetrie, NevenT.Valev, JamesH.Marton, AndrewR.Hanson, KurtE.Schnier, MaryB.Walker, BrianA.Hunt, BruceA.Seaman, JamesR.Alm, ResulCesur, ShiferawGurmu, PierreNguimkeu, YuriyKitsul, Dr.PramestiResiandini, PaulJ.Ferraro, Banzhaf, RachanaR.Bhatt, HenryS.Banzhaf, JamesC.Cox, EdwardT.Cox, Andrew.Feltenstein, AbbasBarzegar, CarolynA.Crutchfield, Tchernis, Judex.Hyppolite, RichardP.Luger, RustyTchernis, JamesT.Swarthout, SeunghaeGraceO, Klark, NareeshMallick, ShelbyFrost, SARAVIA
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ECON Documents

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ECON Flashcards

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  • 118 terms

    Term:

    Economics

    Definition:

    Social science of choices made under conditions of scarcity

    • ECON 2105 FINAL
    • 118 terms
    • Vocabulary for ECON 2105 FINAL. Find, create, and access Econ 2105, flashcards with Course Hero.
  • 23 terms

    Term:

    internal costs

    Definition:

    costs paid by the individual

    • Ch 7: Market Inefficiencies: Externalities and Public Goods
    • 23 terms
    • Vocabulary for Ch 7: Market Inefficiencies: Externalities and Public Goods. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 24 terms

    Term:

    revenue=

    Definition:

    price x quantity

    • Ch 8: Business Costs and Production
    • 24 terms
    • Vocabulary for Ch 8: Business Costs and Production. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 16 terms

    Term:

    Competitive Markets

    Definition:

    many buyers/sellers similar goods Free entry/exit firms are price takers MR curve will always be HORIZONTAL

    • Ch 9: Firms in a Competitive Market
    • 16 terms
    • Vocabulary for Ch 9: Firms in a Competitive Market. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 13 terms

    Term:

    Monopoly

    Definition:

    single seller set price for a good significant barriers to entry

    • Ch 10: Understanding Monopolies
    • 13 terms
    • Vocabulary for Ch 10: Understanding Monopolies. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 10 terms

    Term:

    utility

    Definition:

    measure of relative levels of satisfaction consumers enjoy from consumption of a good or service numerically quantified by a unit of happiness called a util

    • Ch 16: Consumer Choice
    • 10 terms
    • Vocabulary for Ch 16: Consumer Choice. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 8 terms

    Term:

    Monopolistic Competition

    Definition:

    free entry/exit many different firms product differentiation some market power

    • Ch 12: Monopolistic Competition
    • 8 terms
    • Vocabulary for Ch 12: Monopolistic Competition. Find, create, and access Microeconomics, flashcards with Course Hero.
  • 7 terms

    Term:

    price ceiling

    Definition:

    maximum price shortage

    • Ch 5: Price Controls
    • 7 terms
    • Vocabulary for Ch 5: Price Controls. Find, create, and access Microeconomics, flashcards with Course Hero.

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