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Card 16

Front

1.2.3 What is the relationship between PED and Total Revenues?

Back

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Card 17

Front

1.2.4 What is supply?

Back

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Card 18

Front

1.2.4 What causes movements along a supply curve?

Back

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Card 19

Front

1.2.4 What causes shifts in the supply curve?

Back

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Card 20

Front

1.2.5 What is price elasticity of supply (PES)?

Back

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Card 21

Front

1.2.5 Why is PES usually positive?

Back

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Card 22

Front

1.2.5 What factors influence PES?

Back

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Card 23

Front

1.2.6 What is the market equilibrium?

Back

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Card 24

Front

1.2.7 What is the price mechanism/'invisible hand'?

Back

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Card 25

Front

1.2.7 What is the rationing function of the price mechanism?

Back

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