AP Microeconomics Unit 2
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/22
There's no tags or description
Looks like no tags are added yet.
Last updated 2:41 PM on 10/4/23
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
23 Terms
1
New cards
Elastic
>1
2
New cards
Inelastic
<1
3
New cards
Unit Elastic
=1
4
New cards
Inferior Good
- coefficient (Income Elasticity)
5
New cards
Normal Good
+ coefficient (Income Elasticity)
6
New cards
Complements
- coefficient (Cross-Price Elasticity)
7
New cards
Substitutes
+ coefficient (Cross-Price Elasticity)
8
New cards
Inefficiency
What does DWL (Dead Weight Loss) represent?
9
New cards
Shortage
QD>QS
10
New cards
Surplus
QS>QD
11
New cards
I (insect)
income
12
New cards
N (insect)
number of buyers
13
New cards
S (insect)
substitutes
14
New cards
E (insect)
expectations
15
New cards
C (insect)
complements
16
New cards
T (insect)
tastes
17
New cards
R (ratnest)
resources
18
New cards
A (ratnest)
alternate production
19
New cards
T (ratnest)
technology
20
New cards
N (ratnest)
number of sellers
21
New cards
E (ratnest)
expectations
22
New cards
S (ratnest)
subsidies
23
New cards
T (ratnest)
taxes
Note 
Flashcards (145)