extension of demand

contraction of demand

condition of demand

paradox of value

marginal utility

law of demand

what are the 3 explanations of why the demand curve slopes downwards?

gradient

utility

total utility

marginal utility

diminishing marginal utility

indifference curve

imperfect information

asymmetric information

economic agents

what are the 3 economic agents

market failure

behaviour economics

altruism

bounded rationality

bounded self-control

cognitive bias

social norms

economic policy

economic indicators

production

productivity

labour productivity

capital productivity

content effect

structure effect

price effect

short run

long run

explicit costs

implicit cost

the law of diminishing returns

short run production theory

long run production theory

law of increasing returns

law of constant return

increasing returns

diminishing returns

constant returns