Microeconomics - Unit 3:  Market Inefficiency: Surplus, Quotas and Taxation

MICRO UNIT 3 KEY STUDY GUIDE TERMS & CONCEPTS

price controls - floors & ceilings

product shortage

product surplus

producer surplus

consumer surplus
allocative efficiency

deadweight loss (loss in social welfare)
tax burden - (incidence)
tax wedge

tax revenue

consumer tax price

producer net gain

subsidy

cost of subsidy
quantity controls (quota limits)
quota rent

domestic supply and demand

foreign supply and demand

PowerPoints & Notes

Assigned Videos

Assigned Work

CRASH COURSE ECONOMICS VIDEOS
Price Controls #20 - video
      Question Sheet

Unit Concepts In Media

Extra Help Resources

Instructor:  Mr.Magnani
 Kevin_Magnani@wrsd.net