Term
C1 - Efficiency Vs. Equity
Opportunity Cost |
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Definition
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| C2 - Circular Flow Diagram |
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Definition
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Term
C3 - Market Structures
The income/substitution effect
Shortage/Surplus |
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Definition
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Definition
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Term
C5 - Budget Constraint
Indifference Curve |
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Definition
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Term
C6 - Costs: ATC, AFC, AVC, MC
Normal/Abnormal profit
Shut down/Exit market
Sunk costs |
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Definition
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Term
C8 - Price ceilings/floors
Taxes
Subsidies |
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Definition
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Term
C9 - Deadweight loss
The Laffer curve
Administrative burden |
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Definition
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Term
C10 - Features of goods (Excludable/Rival)
The Free Rider Problem
Cost Benefit Analysis
Merit-De-merit goods |
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Definition
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Term
C11 - Positive/Negative externalities
Pigovian Taxes |
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Definition
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Term
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Definition
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Term
C14 - Natural Monopolies
Monopoly deadweight loss
Controlling monopolies |
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Definition
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