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Microeconomics (Government Intervention (Cap & trade permits…
Microeconomics
Government Intervention
Price floors/price ceilings
Subsidies
Taxes
Legislation/regulation
Advertisements
Cap & trade permits
Pollution :key:
Elasticities
Determinants
Implications
Types
XED
YED
PED
PES
Usefulness
Total revenue tests
The Market Mechanism
Price mechanism
Functions
PPC, Opportunity cost
Producer + Consumer surplus
Efficiencies
Allocative
Productive
How economies are organised
Planned
Free
Why supply slopes :arrow_up:, why demand slopes :arrow_down:
Income effect
Market Failure
Positive/negative externality
Theory of the Firm