Home > Blossary: Microeconomics
This glossary encompasses the most frequently used terms within microeconomics, giving brief descriptions and practical uses.

Category: Education

20 Terms

Created by: Timmwilson

Number of Blossarys: 22

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Χρηματικής πληρωμής. Λογιστική κόστους = κόστος ρητή.

Domain: Economy; Category: Economics

Defined as total revenue - economic cost. Economic costs involve both implicit and explicit costs.

Domain: Economy; Category: Economics

An opportunity cost that does not involve a monetary payment. Ex: opportunity cost of the entrepreneur's time / opportunity cost of the entrepreneur's funds that could have been invested elsewhere.

Domain: Economy; Category: Economics

A monetary payment. Accounting cost = explicit cost.

Domain: Economy; Category: Economics

The decrease in total surplus of the market that is a result of a policy. Ex: price ceilings/floors; government intervention.

Domain: Economy; Category: Economics

Consumer surplus + producer surplus.

Domain: Economy; Category: Economics

The price a producer receives for a product – the marginal cost of production.

Domain: Economy; Category: Economics

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