More cards in this set

Card 16

Front

Explain the concept of consumer surplus

Back

Preview of the front of card 16

Card 17

Front

Explain the concept of producer surplus

Back

Preview of the front of card 17

Card 18

Front

Explain allocative efficiency

Back

Preview of the front of card 18

Card 19

Front

Explain price elasticity of demand (PED)

Back

Preview of the front of card 19