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Flashcard 150900807

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The quantity [demanded or supplied?] is greater at higher prices.
Answer
supplied

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The quantity supplied is greater at higher prices.

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Flashcard 150900823

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The quantity [demanded or supplied?] is greater at lower prices.
Answer
demanded

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The quantity demanded is greater at lower prices.

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Flashcard 150901443

Tags
#haematology #medicine
Question
How many white cells are seen in Leukaemoid reaction ?
Answer
WCC > 50x10 9//L

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Flashcard 150901450

Tags
#haematology #medicine
Question
What is a Left shift on Blood Film ?
Answer
Immature neutrophils are sent out of the marrow
  • infection

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Flashcard 150901457

Tags
#haematology #medicine
Question
What conditions is Anisocytosis seen in ?
Answer
  • Megaloblastic anaemia
  • Thalassaemia
  • IDA

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Flashcard 150901464

Tags
#haematology #medicine
Question
What is a Dimorphic picture on Blood Film ?
Answer
Two populations of red cells

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Flashcard 150901471

Tags
#haematology #medicine
Question
What are Blasts cells ?
Answer
Nucleated precursor cells

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Flashcard 150901478

Tags
#haematology #medicine
Question
What are Cabot rings seen in ?
Answer
  • Pernicious anaemia
  • Lead poisoning
  • Bad infections

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Flashcard 150901485

Tags
#haematology #medicine
Question
What is Basophilic RBC stippling ?
Answer
Denatured RNA found in RBCs, indicating accelerated erythropoiesis or defective Hb synthesis.

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Flashcard 150901492

Tags
#haematology #medicine
Question
What are 4 causes of neutrophilia ?
Answer
  • Bacterial infections.
  • Inflammation, eg myocardial infarction, polyarteritis nodosa.
  • Myeloproliferative disorders.
  • Drugs (steroids).
  • Disseminated malignancy.
  • Stress, eg trauma, surgery, burns, haemorrhage, seizure.

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Flashcard 150901499

Tags
#haematology #medicine
Question
What are 4 causes of neutropenia ?
Answer
  • Viral infections
  • Drugs, eg post chemotherapy, cytotoxic agents, carbimazole, sulfonamides
  • Severe sepsis
  • Neutrophil antibodies ( SLE, haemolytic anaemia) — destruction
  • Hypersplenism (Felty’s syndrome)
  • Bone marrow failure — production

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Flashcard 150901506

Tags
#haematology #medicine
Question
What are the causes of lymphocytosis ?
Answer
  • Acute viral infections.
  • Chronic infections, eg TB , Brucella, hepatitis, syphilis.
  • Leukaemias and lymphomas, especially chronic lymphocytic leukaemia

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Flashcard 150901513

Tags
#haematology #medicine
Question
What are the causes of lymphopenia ?
Answer
  • Steroid therapy
  • SLE
  • Uraemia
  • Legionnaire’s disease
  • HIV infection
  • Barrow infilration
  • Post chemotherapy or radiotherapy

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Flashcard 150901520

Tags
#haematology #medicine
Question
What are 4 causes of eosinophilia ?
Answer
  • Drug reactions, eg with erythema multiforme
  • Allergies: asthma, atopy
  • Parasitic infections (especially invasive helminths)
  • Skin disease: especially pemphigus, eczema, psoriasis, dermatitis herpetiformis.

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Flashcard 150901527

Tags
#haematology #medicine
Question
What is The Hypereosinophilic Syndrome (HES) ?
Answer
A severe disease of unknown cause, in which an eosinophil count ( >1 . 5 ≈ 109/L for >6 weeks) leads to end-organ damage
  • Endomyocardial fibrosis/restrictive cardiomyopathy
  • Skin lesions
  • Thromboembolic disease
  • Lung disease
  • Neuropathy
  • Hepatosplenomegaly

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Flashcard 150901534

Tags
#haematology #medicine
Question
What is a the most common cause of Macrocytosis without Anaemia ?
Answer
Excessive Alcohol Drinking

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Flashcard 150901541

Tags
#haematology #medicine
Question
What is the most common cause of a macrocytic anaemia ?
Answer
Pernicious anaemia

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Flashcard 150901548

Tags
#haematology #medicine
Question
What are the causes of macrocytosis ?
Answer
  • Megaloblastic: B12 deficiency, folate deficiency, cytotoxic drugs
  • Non-megaloblastic:Alcohol, reticulocytosis (eg in haemolysis), liver disease, hypothyroidism, pregnancy
  • Other haematological disease: Myelodysplasia, myeloma, myeloproliferative disorders, aplastic anaemia.

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Flashcard 150901555

Tags
#haematology #medicine
Question
What are the causes of Folate deficiency ?
Answer
  • Poor diet (poverty, alcoholics, elderly)
  • Increased demand (pregnancy or cell turnover (seen in haemolysis, malignancy, inflammatory disease and renal dialysis))
  • Malabsorption (coeliac disease, tropical sprue)
  • Drugs: alcohol, anti-epileptics (phenytoin, valproate), methotrexate, trimethoprim.

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Flashcard 150901562

Tags
#haematology #medicine
Question
Where is folate absorbed in the GI Tract ?
Answer
  • Duodenum
  • Proximal jejunum.

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Flashcard 150901569

Tags
#haematology #medicine
Question
What is the length of Body Stores for Folate ?
Answer
Body stores can last for 4 months

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Flashcard 150901576

Tags
#haematology #medicine
Question
How is folate deficiency treated ?
Answer
  • Treat underlying cause
  • Folic acid 5 mg/day PO for 4 months
  • B12 Supplementation

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Flashcard 150901583

Tags
#haematology #medicine
Question
Why must folate be given with B12 ?
Answer
It may precipitate, or worsen, subacute combined degeneration of the cord if there is B12 deficiency

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Flashcard 150901590

Tags
#haematology #medicine
Question
Besides a Blood Film, what are the other investigation for Macrocytic Anaemia ?
Answer
  • LFT (include gamma GT )
  • TFT
  • Serum B12
  • Serum folate

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Flashcard 150901597

Tags
#haematology #medicine
Question
What does B12 bind to in the Stomach ?
Answer
Intrinsic Factor

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Flashcard 150901604

Tags
#haematology #medicine
Question
Where is B12 absrobed from in The Gi Tract ?
Answer
Terminal ileum

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Flashcard 150901611

Tags
#haematology #medicine
Question
What are the causes of B12 Deficiency ?
Answer
  • Dietary (eg vegans)
  • Malabsorption:
    • Stomach (lack of intrinsic factor): pernicious anaemia, post gastrectomy
    • Terminal ileum: ileal resection, Crohn’s disease, bacterial overgrowth, tropical sprue, tapeworms (diphyllobothrium)
  • Congenital metabolic errors

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Flashcard 150901618

Tags
#haematology #medicine
Question
What is the classical triad of subacute combined degeneration of the spinal cord ?
Answer
  • Extensor Plantars (UMN)
  • Absent knee jerks (LMN)
  • Absent ankle jerks (LMN)

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Flashcard 150901625

Tags
#haematology #medicine
Question
What is perserved with Subacute combined degeneration of the spinal cord ?
Answer
Pain and temperature sensation

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Flashcard 150901632

Tags
#haematology #medicine
Question
What regions of the Spinal Cord are affected by Subacute Combined Spinal Cord Degeneration ?
Answer
  • Posterior (dorsal) column loss, causing sensory and LMN signs
  • Corticospinal tract loss, causing motor and UMN signs

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Flashcard 150901639

Tags
#haematology #medicine
Question
What are the first neurological signs of subacute combined spinal cord degeneration ?
Answer
  • Joint-position
  • Vibration sense

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Flashcard 150901646

Tags
#haematology #medicine
Question
What is the pathophysiology behind Pernicious Anaemia ?
Answer
An autoimmune atrophic gastritis, leading to achlorhydria and lack of gastric intrinsic factor secretion

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Flashcard 150901653

Tags
#haematology #medicine
Question
What are the Neuropsychiatric symptoms of B12 Deficiency ?
Answer
  • Irritability
  • Depression
  • Psychosis
  • Dementia

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Flashcard 150901660

Tags
#haematology #medicine
Question
What are the specific test for Pernicious Anaemia ?
Answer
  1. Parietal cell antibodies (found in 90 % with Pernicious Anemia)
  2. Intrinsic factor ( IF ) antibodies: specific for pernicious anaemia, but lower sensitivity. These target B12 binding sites (in 50 %) or ileal binding sites (in 35 %)

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Flashcard 150901667

Tags
#haematology #medicine
Question
What cancer is more common in those with Pernicious Anaemia ?
Answer
Carcinoma of stomach (3 fold risk increase)

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Flashcard 150901674

Tags
#haematology #medicine
Question
What are the Non-dietary, non-autoimmune causes of B12 Deficiency ?
Answer
  • Crohn’s and Coeliac disease
  • After gastric surgery
  • Acid-suppressors (eg ranitidine)
  • Metformin
  • Pancreatic insufficiency
  • False-low reading

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Capital markets refers to the markets where firms raise money for investment by selling debt (borrowing) or selling equities (claims to ownership), as well as the markets where these debt and equity claims are subsequently traded.
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Flashcard 150901744

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] markets refers to the markets where firms raise money for investment by selling debt (borrowing) or selling equities (claims to ownership), as well as the markets where these debt and equity claims are subsequently traded.
Answer
Capital

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Capital markets refers to the markets where firms raise money for investment by selling debt (borrowing) or selling equities (claims to ownership), as well as the markets where these

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
an increase in the price of automobiles will decrease demand for gasoline (they are complements)
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Flashcard 150901754

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
an increase in the price of automobiles will decrease demand for gasoline (they are [...])
Answer
complements

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an increase in the price of automobiles will decrease demand for gasoline (they are complements)

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
an increase in the price of bus travel will increase the demand for gasoline (they are substitutes)
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Flashcard 150901764

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
an increase in the price of bus travel will increase the demand for gasoline (they are [...])
Answer
substitutes

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an increase in the price of bus travel will increase the demand for gasoline (they are substitutes)

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
we graph demand curves with price (the independent variable) on the vertical y-axis and quantity (the dependent variable) on the horizontal x-axis by convention.
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Flashcard 150901774

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
we graph demand curves with [how do we assign variables to axes?] by convention.
Answer
price (the independent variable) on the vertical y-axis and quantity (the dependent variable) on the horizontal x-axis

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we graph demand curves with price (the independent variable) on the vertical y-axis and quantity (the dependent variable) on the horizontal x-axis by convention.

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#cfa #economics
The factors held constant in Law of Demand relationship are the prices of other goods and the consumer's income
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Law of demand - Wikipedia, the free encyclopedia
of a product decreases (↓), quantity demanded increases (↑). In simple words,law of demand means inverse relationship between price and quantity of demand.There is a negative relationship between the quantity demanded of a good and its price. <span>The factors held constant in this relationship are the prices of other goods and the consumer's income. [1] There are, however, some possible exceptions to the law of demand (see Giffen goods and Veblen goods). Contents 1 Mathematical expression 2 Graphical depiction 3 Except




Flashcard 150901798

Tags
#cfa #economics
Question
The factors held constant in Law of Demand relationship are the [...] and the consumer's income
Answer
prices of other goods

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The factors held constant in Law of Demand relationship are the prices of other goods and the consumer's income

Original toplevel document

Law of demand - Wikipedia, the free encyclopedia
of a product decreases (↓), quantity demanded increases (↑). In simple words,law of demand means inverse relationship between price and quantity of demand.There is a negative relationship between the quantity demanded of a good and its price. <span>The factors held constant in this relationship are the prices of other goods and the consumer's income. [1] There are, however, some possible exceptions to the law of demand (see Giffen goods and Veblen goods). Contents 1 Mathematical expression 2 Graphical depiction 3 Except







Flashcard 150901804

Tags
#cfa #economics
Question
The factors held constant in Law of Demand relationship are the prices of other goods and the [...]
Answer
consumer's income

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The factors held constant in Law of Demand relationship are the prices of other goods and the consumer's income

Original toplevel document

Law of demand - Wikipedia, the free encyclopedia
of a product decreases (↓), quantity demanded increases (↑). In simple words,law of demand means inverse relationship between price and quantity of demand.There is a negative relationship between the quantity demanded of a good and its price. <span>The factors held constant in this relationship are the prices of other goods and the consumer's income. [1] There are, however, some possible exceptions to the law of demand (see Giffen goods and Veblen goods). Contents 1 Mathematical expression 2 Graphical depiction 3 Except







#cfa #economics #has-images

Mathematically, the inverse relationship of the Law of Demand may be expressed as a causal relation:

where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative.

Here, is the causal factor (independent variable) and Is the dependent variable

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Law of demand - Wikipedia, the free encyclopedia
ction 3 Exceptions to the law of demand 3.1 Giffen goods 3.2 Expectation of change in the price of commodity 3.3 Basic or necessary goods 4 The law of demand and change in demand 5 See also 6 References Mathematical expression[edit] <span>Mathematically, the inverse relationship may be expressed as a causal relation: where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative. Here, is the causal factor (independent variable) and Is the dependent variable. Graphical depiction[edit] A demand curve is a graphical depiction that abides by the law of demand. It shows how the quantity demanded of some product during a specified period of




Flashcard 150901817

Tags
#cfa #economics #has-images
Question

Mathematically, the inverse relationship of the Law of Demand may be expressed as a causal relation:

where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative.

Here, is the [another name for the independent variable?] (independent variable) and Is the dependent variable

Answer
causal factor (i.e. the "cause")

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inverse relationship of the Law of Demand may be expressed as a causal relation: where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative. Here, is the <span>causal factor (independent variable) and Is the dependent variable <span><body><html>

Original toplevel document

Law of demand - Wikipedia, the free encyclopedia
ction 3 Exceptions to the law of demand 3.1 Giffen goods 3.2 Expectation of change in the price of commodity 3.3 Basic or necessary goods 4 The law of demand and change in demand 5 See also 6 References Mathematical expression[edit] <span>Mathematically, the inverse relationship may be expressed as a causal relation: where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative. Here, is the causal factor (independent variable) and Is the dependent variable. Graphical depiction[edit] A demand curve is a graphical depiction that abides by the law of demand. It shows how the quantity demanded of some product during a specified period of







Flashcard 150901826

Tags
#cfa #economics #has-images
Question

Mathematically, the inverse relationship of the Law of Demand may be expressed as a causal relation:

where is the quantity demanded of good x, is the price of the good, is the demand function, and is

[...]

Here, is the causal factor (independent variable) and Is the dependent variable

Answer
its derivative.

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/head>Mathematically, the inverse relationship of the Law of Demand may be expressed as a causal relation: where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative. Here, is the causal factor (independent variable) and Is the dependent variable <html>

Original toplevel document

Law of demand - Wikipedia, the free encyclopedia
ction 3 Exceptions to the law of demand 3.1 Giffen goods 3.2 Expectation of change in the price of commodity 3.3 Basic or necessary goods 4 The law of demand and change in demand 5 See also 6 References Mathematical expression[edit] <span>Mathematically, the inverse relationship may be expressed as a causal relation: where is the quantity demanded of good x, is the price of the good, is the demand function, and is its derivative. Here, is the causal factor (independent variable) and Is the dependent variable. Graphical depiction[edit] A demand curve is a graphical depiction that abides by the law of demand. It shows how the quantity demanded of some product during a specified period of







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The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price.
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Law of demand - Wikipedia, the free encyclopedia
n other words, as the price declines the quantity demanded increases. This is indicated by a downward movement along the demand curve. An increase in price decreases the quantity demanded, and an upward movement along the demand curve occurs. <span>The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price. Exceptions to the law of demand[edit] Generally the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be tru




Flashcard 150901836

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Question
The movement along a given demand curve due to a change in price is referred to as "change in [...]". The term "change in demand" refers to a shift of the demand curve because of factors other than price.
Answer
quantity demanded (as the price changes, the quantity demanded changes.)

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The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price.

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Law of demand - Wikipedia, the free encyclopedia
n other words, as the price declines the quantity demanded increases. This is indicated by a downward movement along the demand curve. An increase in price decreases the quantity demanded, and an upward movement along the demand curve occurs. <span>The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price. Exceptions to the law of demand[edit] Generally the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be tru







Flashcard 150901845

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Question
The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in [...]" refers to a shift of the demand curve because of factors other than price.
Answer
demand

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The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price.

Original toplevel document

Law of demand - Wikipedia, the free encyclopedia
n other words, as the price declines the quantity demanded increases. This is indicated by a downward movement along the demand curve. An increase in price decreases the quantity demanded, and an upward movement along the demand curve occurs. <span>The movement along a given demand curve due to a change in price is referred to as "change in quantity demanded". As the price changes, the quantity demanded changes. The term "change in demand" refers to a shift of the demand curve because of factors other than price. Exceptions to the law of demand[edit] Generally the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be tru







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The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D1 to D2, resulting in an increase in price (P) and quantity sold (Q) of the product.
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Capitalism - Wikipedia, the free encyclopedia
summated in the relation of a thing, of money, to itself.—Instead of the actual transformation of money into capital, we see here only form without content." — "Das Kapital", vol.1, ch. 24 Supply and demand[edit] <span>The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D 1 to D 2 , resulting in an increase in price (P) and quantity sold (Q) of the product. In capitalist economic structures, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular g




Flashcard 150901866

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Question

The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a [...] from D1 to D2, resulting in an increase in price (P) and quantity sold (Q) of the product.
Answer
change in demand

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The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D 1 to D 2 , resulting in an increase in price (P) and quantity sold (Q) of the product.

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Capitalism - Wikipedia, the free encyclopedia
summated in the relation of a thing, of money, to itself.—Instead of the actual transformation of money into capital, we see here only form without content." — "Das Kapital", vol.1, ch. 24 Supply and demand[edit] <span>The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D 1 to D 2 , resulting in an increase in price (P) and quantity sold (Q) of the product. In capitalist economic structures, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular g







Flashcard 150901872

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Question

The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D1 to D2, resulting in an increase in [...].
Answer
price (P) and quantity sold (Q) of the product

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roduct is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D 1 to D 2 , resulting in an increase in <span>price (P) and quantity sold (Q) of the product.<span><body><html>

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Capitalism - Wikipedia, the free encyclopedia
summated in the relation of a thing, of money, to itself.—Instead of the actual transformation of money into capital, we see here only form without content." — "Das Kapital", vol.1, ch. 24 Supply and demand[edit] <span>The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D 1 to D 2 , resulting in an increase in price (P) and quantity sold (Q) of the product. In capitalist economic structures, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular g







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The fact that a greater quantity is supplied at higher prices is referred to as the law of supply.
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Flashcard 150901882

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Question
The fact that a greater quantity is supplied at higher prices is referred to as the law of [...].
Answer
supply

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The fact that a greater quantity is supplied at higher prices is referred to as the law of supply.

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When we have a market supply and market demand curve for a good, we can solve for the price at which the quantity supplied equals the quantity demanded. We define this as the equilibrium price and the equilibrium quantity; graphically, these are identified by the point where the two curves intersect
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Flashcard 150901892

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Question
When we have a market supply and market demand curve for a good, we can solve for the price at which the quantity supplied equals the quantity demanded. We define this as the [...] price and the [...] quantity; graphically, these are identified by the point where the two curves intersect
Answer
the equilibrium price and the equilibrium quantity

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When we have a market supply and market demand curve for a good, we can solve for the price at which the quantity supplied equals the quantity demanded. We define this as the equilibrium price and the equilibrium quantity; graphically, these are identified by the point where the two curves intersect

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if the price is above its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess supply
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Flashcard 150901905

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Question
if the price is above its equilibrium level, the quantity willingly supplied [...], and we have excess supply
Answer
exceeds the quantity consumers are willing to purchase

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if the price is above its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess supply

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Flashcard 150901911

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Question
if the price is above its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess [...]
Answer
supply

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if the price is above its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess supply

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Flashcard 150901917

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Question
if the price is [...] its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess supply
Answer
above

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if the price is above its equilibrium level, the quantity willingly supplied exceeds the quantity consumers are willing to purchase, and we have excess supply

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.
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Flashcard 150901927

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Question
if the market price is [...] its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.
Answer
below

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if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.

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Flashcard 150901933

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Question
if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess [...].
Answer
demand

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if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.

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Flashcard 150901939

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Question
if the market price is below its equilibrium level, the quantity demanded at that price [...], and we have excess demand.
Answer
exceeds the quantity supplied

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if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.

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An equilibrium is termed stable when there are forces that move price and quantity back towards equilibrium values when they deviate from those values.
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Flashcard 150901949

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Question
An equilibrium is termed [...] when there are forces that move price and quantity back towards equilibrium values when they deviate from those values.
Answer
stable

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An equilibrium is termed stable when there are forces that move price and quantity back towards equilibrium values when they deviate from those values.

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Even if the supply curve slopes downward, as long as it cuts through the demand curve from above, the equilibrium will be stable.
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Flashcard 150901959

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Question
Even if the supply curve slopes downward, as long as it cuts through the demand curve [...], the equilibrium will be stable.
Answer
from above

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Even if the supply curve slopes downward, as long as it cuts through the demand curve from above, the equilibrium will be stable.

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If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as unstable.
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Flashcard 150901972

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Question
If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as [...].
Answer
unstable

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If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as unstable.

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Flashcard 150901978

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Question
If the supply curve is [...] than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as unstable.
Answer
less steeply sloped

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If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as unstable.

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In a common value auction, the value of the item to be auctioned will be the same to any bidder, but the bidders do not know the value at the time of the auction.
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Flashcard 150901996

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Question
In [...] auction, the value of the item to be auctioned will be the same to any bidder, but the bidders do not know the value at the time of the auction.
Answer
a common value

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In a common value auction, the value of the item to be auctioned will be the same to any bidder, but the bidders do not know the value at the time of the auction.</ht

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Oil lease auctions fall into common value auction category because the value of the oil to be extracted is the same for all, but bidders must estimate what that value is.
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Flashcard 150902009

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Question
Oil lease auctions fall into [...] auction category because the value of the oil to be extracted is the same for all, but bidders must estimate what that value is.
Answer
common value

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Oil lease auctions fall into common value auction category because the value of the oil to be extracted is the same for all, but bidders must estimate what that value is.

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Because common value auction participants estimate the value with error, the bidder who most overestimates the value of a lease will be the highest (winning) bidder. This is sometimes referred to as the winner's curse, and the winning bidder may have losses as a result.
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Flashcard 150902022

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Question
Because common value auction participants estimate the value with error, the bidder who most overestimates the value of a lease will be the highest (winning) bidder. This is sometimes referred to as the [...], and the winning bidder may have losses as a result.
Answer
winner's curse

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Because common value auction participants estimate the value with error, the bidder who most overestimates the value of a lease will be the highest (winning) bidder. This is sometimes referred to as the winner's curse, and the winning bidder may have losses as a result.

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An example of a private value auction is an auction of art or collectibles. The value that each bidder places on an item is the value it has to him, and we assume that no bidder will bid more than that.
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Flashcard 150902032

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Question
An example of [...] auction is an auction of art or collectibles. The value that each bidder places on an item is the value it has to him, and we assume that no bidder will bid more than that.
Answer
a private value

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An example of a private value auction is an auction of art or collectibles. The value that each bidder places on an item is the value it has to him, and we assume that no bidder will bid mo

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One common type of auction is an ascending price auction, also referred to as an English auction. Bidders can bid an amount greater than the previous high bid, and the bidder that first offers the highest bid of the auction wins the item and pays the amount bid
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Flashcard 150902042

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Question
One common type of auction is [...] auction, also referred to as an English auction. Bidders can bid an amount greater than the previous high bid, and the bidder that first offers the highest bid of the auction wins the item and pays the amount bid
Answer
an ascending price

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One common type of auction is an ascending price auction, also referred to as an English auction. Bidders can bid an amount greater than the previous high bid, and the bidder that first offers the highest bid of th

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Flashcard 150902048

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Question
One common type of auction is an ascending price auction, also referred to as [...] auction. Bidders can bid an amount greater than the previous high bid, and the bidder that first offers the highest bid of the auction wins the item and pays the amount bid
Answer
an English

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One common type of auction is an ascending price auction, also referred to as an English auction. Bidders can bid an amount greater than the previous high bid, and the bidder that first offers the highest bid of the auction wins the item and pays the

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In a sealed bid auction, each bidder provides one bid, which is unknown to other bidders. The bidder submitting the highest bid wins the item and pays the price bid.
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Flashcard 150902058

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Question
In [...] auction, each bidder provides one bid, which is unknown to other bidders. The bidder submitting the highest bid wins the item and pays the price bid.
Answer
a sealed bid

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In a sealed bid auction, each bidder provides one bid, which is unknown to other bidders. The bidder submitting the highest bid wins the item and pays the price bid.</b

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A descending price auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
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Flashcard 150902068

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Question
[...] auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
Answer
A descending price

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A descending price auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.</b

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Flashcard 150902074

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Question
A descending price auction, or [...] auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.
Answer
Dutch

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A descending price auction, or Dutch auction, begins with a price greater than what any bidder will pay, and this offer price is reduced until a bidder agrees to pay it.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The term reservation price refers to the highest price that a bidder is willing to pay.
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Flashcard 150902084

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The term [...] refers to the highest price that a bidder is willing to pay.
Answer
reservation price

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The term reservation price refers to the highest price that a bidder is willing to pay.

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Flashcard 150902090

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The term reservation price refers to the [...].
Answer
highest price that a bidder is willing to pay

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The term reservation price refers to the highest price that a bidder is willing to pay.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
In a sealed bid auction, the optimal bid for the bidder with the highest reservation price would be just slightly above that of the bidder who values the item second-most highly. For this reason, bids are not necessarily equal to bidders' reservation prices.
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Flashcard 150902100

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In a sealed bid auction, the optimal bid for the bidder with the highest reservation price would be [...]. For this reason, bids are not necessarily equal to bidders' reservation prices.
Answer
just slightly above that of the bidder who values the item second-most highly

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In a sealed bid auction, the optimal bid for the bidder with the highest reservation price would be just slightly above that of the bidder who values the item second-most highly. For this reason, bids are not necessarily equal to bidders' reservation prices.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
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Flashcard 150902110

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In [...] auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
a second price sealed bid

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In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is

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Flashcard 150902116

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In a second price sealed bid auction ([...] auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
Vickrey

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In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a

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Flashcard 150902122

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays [...]. In this type of auction, there is no reason for a bidder to bid less than his reservation price.
Answer
the amount bid by the second highest bidder

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In a second price sealed bid auction (Vickrey auction), the bidder submitting the highest bid wins the item but pays the amount bid by the second highest bidder. In this type of auction, there is no reason for a bidder to bid less than his reservation price.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The eventual outcome of Vickrey auction is much like that of an ascending price auction, where the winning bidder pays one increment of price more than the price offered by the bidder who values the item second-most highly.
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Flashcard 150902135

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The eventual outcome of Vickrey auction is much like that of [...] auction, where the winning bidder pays one increment of price more than the price offered by the bidder who values the item second-most highly.
Answer
an ascending price (English)

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The eventual outcome of Vickrey auction is much like that of an ascending price auction, where the winning bidder pays one increment of price more than the price offered by the bidder who values the item second-most highly.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is the reservation price of the bidder whose bid wins the last units offered.
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Flashcard 150902145

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Sometimes, when more than one unit is auctioned, a descending price auction is modified (modified Dutch auction) so that winning bidders [...], which is the reservation price of the bidder whose bid wins the last units offered.
Answer
all pay the same price

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Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is the reservation price of the bidder whose bid wins the last units offered.

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Flashcard 150902151

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is [...].
Answer
the reservation price of the bidder whose bid wins the last units offered (it is about auction where many equally valuable units are auctioned)

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Sometimes, a descending price auction is modified (modified Dutch auction) so that winning bidders all pay the same price, which is the reservation price of the bidder whose bid wins the last units offered.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
In Dutch auction, if the first (highest) bidder agrees to buy three of ten units at $100, subsequent bidders will get the remaining units at lower prices as descending offered prices are accepted.
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Flashcard 150902164

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
In [...] auction, if the first (highest) bidder agrees to buy three of ten units at $100, subsequent bidders will get the remaining units at lower prices as descending offered prices are accepted.
Answer
Dutch / descending price

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In Dutch auction, if the first (highest) bidder agrees to buy three of ten units at $100, subsequent bidders will get the remaining units at lower prices as descending offered prices are accepted

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#economics #english #finance
If you tender for something such as shares, you make a formal offer to buy them for a stated price.
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Flashcard 150902181

Tags
#economics #english #finance
Question
If you [...] for something such as shares, you make a formal offer to buy them for a stated price.
Answer
tender

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If you tender for something such as shares, you make a formal offer to buy them for a stated price.







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
With U.S. Treasury securities, a single price auction is held but bidders may also submit a noncompetitive bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in their bids. The price determined by this type of auction is found as in the example just given, but the amount of securities specified in the noncompetitive bids is subtracted from the total amount to be sold
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Flashcard 150902191

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With U.S. Treasury securities, a single price auction is held but bidders may also submit [...] bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in their bids. The price determined by this type of auction is found as in the example just given, but the amount of securities specified in the [...] bids is subtracted from the total amount to be sold.
Answer
noncompetitive

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With U.S. Treasury securities, a single price auction is held but bidders may also submit a noncompetitive bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in

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#cfa #economics #surplus
Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.
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Economic surplus - Wikipedia, the free encyclopedia
ing consumer (red) and producer (blue) surpluses on a supply and demand chart In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (named after Alfred Marshall), refers to two related quantities. <span>Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is rou




Flashcard 150902215

Tags
#cfa #economics #surplus
Question
Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to [...].
Answer
purchase a product for a price that is less than the highest price that they would be willing to pay

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Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.

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Economic surplus - Wikipedia, the free encyclopedia
ing consumer (red) and producer (blue) surpluses on a supply and demand chart In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (named after Alfred Marshall), refers to two related quantities. <span>Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is rou







Flashcard 150902221

Tags
#cfa #economics #surplus
Question
Consumer surplus or consumers' surplus is the [...] obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.
Answer
monetary gain

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Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.

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Economic surplus - Wikipedia, the free encyclopedia
ing consumer (red) and producer (blue) surpluses on a supply and demand chart In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (named after Alfred Marshall), refers to two related quantities. <span>Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is rou







#cfa #economics #has-images #surplus

Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart.
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Economic surplus - Wikipedia, the free encyclopedia
From Wikipedia, the free encyclopedia Jump to: navigation, search This article is about consumers' and producers' surplus. For information about other surpluses, see Surplus. <span>Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (named after Alfred Marshall), refers to two related quantities. Consumer surplus or consume




Flashcard 150902234

Tags
#cfa #economics #has-images #surplus
Question

What part of the graph illustrate consumer (red) and producer (blue) surpluses?
Answer
areas (the unit is price times quantity)

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Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart.

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Economic surplus - Wikipedia, the free encyclopedia
From Wikipedia, the free encyclopedia Jump to: navigation, search This article is about consumers' and producers' surplus. For information about other surpluses, see Surplus. <span>Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (named after Alfred Marshall), refers to two related quantities. Consumer surplus or consume







#cfa #economics #surplus
Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit
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Economic surplus - Wikipedia, the free encyclopedia
refers to two related quantities. Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. <span>Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit (since producers are not normally willing to sell at a loss, and are normally indifferent to selling at a breakeven price). In Marxian economics, the term surplus may also refer to sur




Flashcard 150902247

Tags
#cfa #economics #surplus
Question
Producer surplus or producers' surplus is the amount that producers benefit by [...]; this is roughly equal to profit
Answer
selling at a market price that is higher than the least that they would be willing to sell for

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Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit

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Economic surplus - Wikipedia, the free encyclopedia
refers to two related quantities. Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. <span>Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit (since producers are not normally willing to sell at a loss, and are normally indifferent to selling at a breakeven price). In Marxian economics, the term surplus may also refer to sur







Flashcard 150902253

Tags
#cfa #economics #surplus
Question
Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to [...]
Answer

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Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit

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Economic surplus - Wikipedia, the free encyclopedia
refers to two related quantities. Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. <span>Producer surplus or producers' surplus is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit (since producers are not normally willing to sell at a loss, and are normally indifferent to selling at a breakeven price). In Marxian economics, the term surplus may also refer to sur







#cfa #economics #surplus
Why consumer surplus is expressed by area (product of price and quantity)? Because the maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual demand curve.
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Economic surplus - Wikipedia, the free encyclopedia
amount that they pay now is their consumer surplus. Note that the utility of the first few liters of drinking water is very high (as it prevents death), so the first few litres would likely have more consumer surplus than subsequent liters. <span>The maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual demand curve. For a given price the consumer buys the amount for which the consumer surplus is highest, where consumer surplus is the sum, over all units, of the excess of the maximum willingness to p




Flashcard 150902266

Tags
#cfa #economics #surplus
Question
Why consumer surplus is expressed by area (product of price and quantity)? Because the maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of [...], etc. Typically these prices are decreasing; they are given by the individual demand curve.
Answer
the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit (think of drinking water, you would pay a lot for the first bottle just to stay alive, wouldn't you?)

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Why consumer surplus is expressed by area (product of price and quantity)? Because the maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual demand curve.

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Economic surplus - Wikipedia, the free encyclopedia
amount that they pay now is their consumer surplus. Note that the utility of the first few liters of drinking water is very high (as it prevents death), so the first few litres would likely have more consumer surplus than subsequent liters. <span>The maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual demand curve. For a given price the consumer buys the amount for which the consumer surplus is highest, where consumer surplus is the sum, over all units, of the excess of the maximum willingness to p







Flashcard 150902272

Tags
#cfa #economics #surplus
Question
Why consumer surplus is expressed by area (product of price and quantity)? Because the maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual [...].
Answer

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ven quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual <span>demand curve.<span><body><html>

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Economic surplus - Wikipedia, the free encyclopedia
amount that they pay now is their consumer surplus. Note that the utility of the first few liters of drinking water is very high (as it prevents death), so the first few litres would likely have more consumer surplus than subsequent liters. <span>The maximum amount a consumer would be willing to pay for a given quantity of a good is the sum of the maximum price they would pay for the first unit, the (lower) maximum price they would be willing to pay for the second unit, etc. Typically these prices are decreasing; they are given by the individual demand curve. For a given price the consumer buys the amount for which the consumer surplus is highest, where consumer surplus is the sum, over all units, of the excess of the maximum willingness to p







#cfa #economics #social-cost
Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality.
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Social cost - Wikipedia, the free encyclopedia
y transaction costs, such as walking to the stand. Contents 1 Implications 2 Theory 3 Notes 4 Literature 5 See also Implications[edit] If there is a negative externality, then social costs will be greater than private costs. <span>Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a




Flashcard 150902290

Tags
#cfa #economics #social-cost
Question
Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative [...].
Answer
externality

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Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality.

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Social cost - Wikipedia, the free encyclopedia
y transaction costs, such as walking to the stand. Contents 1 Implications 2 Theory 3 Notes 4 Literature 5 See also Implications[edit] If there is a negative externality, then social costs will be greater than private costs. <span>Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a







#cfa #economics #social-cost
If there is a positive externality, then one will have higher social benefits than private benefits.
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Social cost - Wikipedia, the free encyclopedia
edit] If there is a negative externality, then social costs will be greater than private costs. Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. <span>If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: t




Flashcard 150902300

Tags
#cfa #economics #social-cost
Question
If there is a positive externality, then one will have [social benefits and private benefits, which are higher in this case?].
Answer
higher social benefits than private benefits

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If there is a positive externality, then one will have higher social benefits than private benefits.

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Social cost - Wikipedia, the free encyclopedia
edit] If there is a negative externality, then social costs will be greater than private costs. Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. <span>If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: t







Flashcard 150902309

Tags
#cfa #economics #social-cost
Question
If there is a [...] externality, then one will have higher social benefits than private benefits.
Answer
positive

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If there is a positive externality, then one will have higher social benefits than private benefits.

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Social cost - Wikipedia, the free encyclopedia
edit] If there is a negative externality, then social costs will be greater than private costs. Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. <span>If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: t







Flashcard 150902315

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#cfa #economics #social-cost
Question
If there is a positive [...], then one will have higher social benefits than private benefits.
Answer
externality

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If there is a positive externality, then one will have higher social benefits than private benefits.

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Social cost - Wikipedia, the free encyclopedia
edit] If there is a negative externality, then social costs will be greater than private costs. Environmental pollution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. <span>If there is a positive externality, then one will have higher social benefits than private benefits. For example, when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: t







#cfa #economics #social-cost
Social cost is also considered to be the private cost plus externalities.
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Social cost - Wikipedia, the free encyclopedia
ourced material may be challenged and removed. (September 2009) Social cost in economics may be distinguished from "private cost". [1] Economic theorists model individual decision-making as measurement of costs and benefits. <span>Social cost is also considered to be the private cost plus externalities. [2] Rational choice theory often assumes that individuals consider only the costs they themselves bear when making decisions, not the costs that may be borne by others. With pure priv




Flashcard 150902325

Tags
#cfa #economics #social-cost
Question
Social cost is also considered to be the private cost plus [...].
Answer
externalities

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Social cost is also considered to be the private cost plus externalities.

Original toplevel document

Social cost - Wikipedia, the free encyclopedia
ourced material may be challenged and removed. (September 2009) Social cost in economics may be distinguished from "private cost". [1] Economic theorists model individual decision-making as measurement of costs and benefits. <span>Social cost is also considered to be the private cost plus externalities. [2] Rational choice theory often assumes that individuals consider only the costs they themselves bear when making decisions, not the costs that may be borne by others. With pure priv







#cfa #economics #social-cost
when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality.
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Social cost - Wikipedia, the free encyclopedia
llution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. If there is a positive externality, then one will have higher social benefits than private benefits. For example, <span>when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality. In either case, economists refer to this as market failure because resources will be allocated inefficiently. In the case of negative externalities, private agents will engage in too muc




Flashcard 150902335

Tags
#cfa #economics #social-cost
Question
when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a [...] externality.
Answer
positive

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>when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality.<html>

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Social cost - Wikipedia, the free encyclopedia
llution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. If there is a positive externality, then one will have higher social benefits than private benefits. For example, <span>when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality. In either case, economists refer to this as market failure because resources will be allocated inefficiently. In the case of negative externalities, private agents will engage in too muc







Flashcard 150902341

Tags
#cfa #economics #social-cost
Question
when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive [...].
Answer
externality

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pan>when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality.<span><body><html>

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Social cost - Wikipedia, the free encyclopedia
llution is an example of a social cost that is seldom borne completely by the polluter, thereby creating a negative externality. If there is a positive externality, then one will have higher social benefits than private benefits. For example, <span>when a supplier of educational services indirectly benefits society as a whole but only receives payment for the direct benefit received by the recipient of the education: the benefit to society of an educated populace is a positive externality. In either case, economists refer to this as market failure because resources will be allocated inefficiently. In the case of negative externalities, private agents will engage in too muc







#cfa #economics #externality
In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit
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Externality - Wikipedia, the free encyclopedia
(disambiguation). Air pollution from motor vehicles is an example of a negative externality. The costs of the air pollution for the rest of society is not compensated for by either the producers or users of motorized transport. <span>In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit. [1] For example, manufacturing activities that cause air pollution impose health and clean-up costs on the whole society, whereas the neighbors of an individual who chooses to fire-p




Flashcard 150902359

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#cfa #economics
Question
In economics, an [...] is the cost or benefit that affects a party who did not choose to incur that cost or benefit
Answer
externality

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In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit

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Externality - Wikipedia, the free encyclopedia
(disambiguation). Air pollution from motor vehicles is an example of a negative externality. The costs of the air pollution for the rest of society is not compensated for by either the producers or users of motorized transport. <span>In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit. [1] For example, manufacturing activities that cause air pollution impose health and clean-up costs on the whole society, whereas the neighbors of an individual who chooses to fire-p







Flashcard 150902368

Tags
#cfa #economics #externality
Question
In economics, an externality is [...]
Answer
the cost or benefit that affects a party who did not choose to incur that cost or benefit

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In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit

Original toplevel document

Externality - Wikipedia, the free encyclopedia
(disambiguation). Air pollution from motor vehicles is an example of a negative externality. The costs of the air pollution for the rest of society is not compensated for by either the producers or users of motorized transport. <span>In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit. [1] For example, manufacturing activities that cause air pollution impose health and clean-up costs on the whole society, whereas the neighbors of an individual who chooses to fire-p







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The reduction in consumer and producer surplus due to underproduction or overproduction is called a deadweight loss,
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Flashcard 150902465

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The reduction in consumer and producer surplus due to underproduction or overproduction is called a [...],
Answer
deadweight loss

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The reduction in consumer and producer surplus due to underproduction or overproduction is called a deadweight loss,

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#cfa #deadweight-loss #economics
In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
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Deadweight loss - Wikipedia, the free encyclopedia
loss created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. <span>In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Causes of deadweight loss can include monopoly pricing (in the case of artificial scarcity), externalities, taxes or subsidies, and binding price ceilings or floors (including minimum wa




Flashcard 150902483

Tags
#cfa #deadweight-loss #economics
Question
In economics, a deadweight loss (also known as excess [...] or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Answer
burden

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In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.

Original toplevel document

Deadweight loss - Wikipedia, the free encyclopedia
loss created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. <span>In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Causes of deadweight loss can include monopoly pricing (in the case of artificial scarcity), externalities, taxes or subsidies, and binding price ceilings or floors (including minimum wa







Flashcard 150902489

Tags
#cfa #deadweight-loss #economics
Question
In economics, a deadweight loss (also known as excess burden or allocative [...]) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Answer
inefficiency

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In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.

Original toplevel document

Deadweight loss - Wikipedia, the free encyclopedia
loss created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. <span>In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Causes of deadweight loss can include monopoly pricing (in the case of artificial scarcity), externalities, taxes or subsidies, and binding price ceilings or floors (including minimum wa







Flashcard 150902495

Tags
#cfa #deadweight-loss #economics
Question
In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when [...].
Answer
equilibrium for a good or service is not achieved or is not achievable

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In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.

Original toplevel document

Deadweight loss - Wikipedia, the free encyclopedia
loss created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. <span>In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable. Causes of deadweight loss can include monopoly pricing (in the case of artificial scarcity), externalities, taxes or subsidies, and binding price ceilings or floors (including minimum wa