Question
Explain Inflation Types
Answer
Demand-Pull: Too much money chasing too few goods
Cost-Push: Rising input costs
Built-In: Expected inflation
Hyperinflation
Deflation
Official deck
Economics Fundamentals
By @memoo
Preview this deck, then open Memoo to make your own independent copy.
Preview cards
Question
Explain Business Cycles
Answer
Expansion phase
Peak
Contraction phase
Trough
Leading indicators
Question
Define Market Efficiency
Answer
Allocative efficiency
Productive efficiency
Pareto efficiency
Market failures
Externalities
Question
Define Public Goods
Answer
Non-rival consumption
Non-excludable benefits
Free rider problem
Government provision
Cost-benefit analysis
Question
Explain Supply and Demand
Answer
Supply: Quantity offered at each price
Demand: Quantity desired at each price
Equilibrium: Where supply meets demand
Shifts vs. movements along curves
Elasticity measures responsiveness