Supply and Demand
Excise tax
Maximizing utility
100
What is when price go up quantity demanded go down, and when quantity demanded go up price go down.
What is law of demand?
100
What are taxes paid when purchases are made on a specific goo
What are excises taxes
100
What is total utility/quantity
How to calculate marginal utility?
200
What is profit motive
why is supply is downward sloping?
200
What is represented by a triangle
How is total tax revenue that goes to the government represented on the graph?
200
What is the additional satisfaction a consumer gains from consuming one more unit of a good or service.
What is marginal utility?
300
What is changes in price
What changes in quantity demanded?
300
What is a loss of economic efficiency that can occur when equilibrium for a good or service is not achievable.
What is dead weight loss?
300
What is the more you consume the less satisfaction you get.
What is law of diminishing marginal utility?
400
What is ITEN and TIPEN
What changes demand ad supply? Shifters
400
What is price multiply by a quantity
What is total revenue formula?
400
What is Utility is an economic measure of how valuable, or useful, a good or service is to a consumer.
What is utility?
500
What is Qd=Qs, Qd>Qs, Qd<Qs
What is Equilibrium, shortages and surplus?
500
What is a tax that is defined as a fixed amount for each unit of a good or service sold,
What is tax per unit?
500
What is that a consumers overall income level will have an effect on the quantities of goods that consumer will purchase.
What is income effect?
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