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The Economics Game

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Original post by Foo.mp3
Bounded rationality


trade off - amount that must be given up for one good in order to attain more of another
Original post by TheProdigy2k9
trade off - amount that must be given up for one good in order to attain more of another


Forecasting
Negative Externalities.
Reply 443
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franzk
11
Original post by davidcy147
Negative Externalities.


Externalities :L
Original post by franzk
Externalities :L


Equilibrium price
Reply 445
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franzk
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Original post by tooambitious
Equilibrium price


Conspicuous Consumption - Goods bought inorder to display wealth.
Original post by franzk
Conspicuous Consumption - Goods bought inorder to display wealth.


Output gap
Original post by tooambitious
Output gap


Asymmetric information
Original post by Extricated
Asymmetric information


Overheated economy
(edited 12 years ago)
Reply 449
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SEM94
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Marginal cost - the extra cost incurred when a firm produces and sells an additional unit of output
Original post by Seanm1994
Marginal cost - the extra cost incurred when a firm produces and sells an additional unit of output


Supply side policies
Original post by Extricated
Supply side policies


Economies of scale
Original post by Mr Inquisitive
Economies of scale


Law f diminishing marginal utility
Reply 453
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SEM94
11
Original post by tooambitious
Law f diminishing marginal utility


Tariff
Reply 454
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franzk
11
internalising the externalities - Increasing the private cost to the same level as the social cost in order to make the polluter pay
Original post by franzk
internalising the externalities - Increasing the private cost to the same level as the social cost in order to make the polluter pay


Equillibrium, the point at which supply and demand meet.
Original post by chiller_123
Equillibrium, the point at which supply and demand meet.


Unaticipated inflation
Reply 457
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FDR
10
Original post by tooambitious
Unaticipated inflation


Output gap - the difference between the actual and potential output of an economy.
Reply 458
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franzk
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Original post by FDR
Output gap - the difference between the actual and potential output of an economy.


AS/AD
Reply 459
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SEM94
11
Original post by franzk
AS/AD


Austerity

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