Microeconomics 9

The Analysis of Competitive Markets

0.0 (0)

Kartei Details

Karten	11
Sprache	English
Kategorie	VWL
Stufe	Universität
Erstellt / Aktualisiert	17.11.2012 / 13.03.2015
Weblink	https://card2brain.ch/box/microeconomics_9
Einbinden	<iframe src="https://card2brain.ch/box/microeconomics_9/embed" width="780" height="150" scrolling="no" frameborder="0"></iframe>

Kartenliste

Lernen

welfare effects

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Gains and losses to consumers and producers.

deadweight loss

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Net loss of total (consumer plus producer) surplus

welfare benefit

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

consumer + producer surplus measure the welfare benefit of a competitive market

economic efficiency

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Maximization of aggregate consumer and producer surplus

market failure

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Situation in which an unregulated competitive market is inefficient because prices fail to provide proper signals to consumers and producers.

2 reasons for market failure

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

- Externalities (Action taken by prod. or cons. which affects other parties but isn't in the market price)

- Lack of information

price support

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Price set by government above free-market level and maintained by governmental purchases of excess supply.

import quota

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Limit on the quantity of a good that can be imported.

tariff

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Tax on an imported good.

specific tax

Tastatur-Befehle:

= drehen,

= vor-/rückwärts,

= scrollen

Tax or a certain amount of money per unit sold.

subsidy

Payment reducing the buyer's price below the seller's price; i.e., a negative tax.

1 / 11

Kartenliste

Lernen

Microeconomics 9

Lernkarteien erstellen oder kopieren

Lernkarteien erstellen oder kopieren

Melde dich an, um alle Karten zu sehen.

SWITCHaai

Office 365

Edulog

Apple ID

Google