Demand, supply and the market | Conjunto de Fichas

Fichas por BryanTurner, creado hace más de 1 año

Flashcards on 'demand, supply and the market' for South African students. (Made with love by a South African ECON1016 student at Wits University in 2015) Thank you to Wikipedia for the great economic surplus diagram :) http://en.wikipedia.org/wiki/Economic_surplus

127

	Creado por BryanTurner hace más de 9 años

Cerrar

/ 13

Por favor espera - en proceso…

Define a 'market'

Define 'demand'

Define 'supply'

Define 'equilibrium price'

What's the difference between excess demand and excess supply?

What's the difference between a 'substitute' and a 'complement'?

Define an 'inferior good'

What is 'price control'?

Define 'Economic Surplus'

Define 'Consumer Surplus'

Define 'Producer Surplus'

Define 'Price Ceiling'

Define 'Price Floor'