Economics concepts to know

chaplin___ · October 2020

It helps to know basic supply and demand (25, 4, 7 and 21, 2, 10) and the idea of substitute goods (28, 1, 17 and 26, 3, 3) but are there other economics concepts that appear on LR?

I know we don't have to know the specifics but familiarity with them would definitely help non-econ majors like me
would appreciate any help!

Law and Yoda · October 2020

Some concepts that I see pop up are;
-GDP
-Inflation
-Free Market, Capital Market
-Per capita
-Cost/Benefit
-Interest
-Incentives
-Consumer Surplus
-Fair Trade
-Monopoly

Howdy, Stranger!

Categories

Related Discussions

Economics concepts to know

Economics concepts to knowIt helps to know basic supply and demand (25, 4, 7 and 21, 2, 10) and the idea of substitute goods (28, 1, 17 and 26, 3, 3) but are there oth…

Help needed! How to improve from high 160s to mid to high170s?!Thanks to J.Y. and 7 sage, my PT scores have improved from the low 160s to the high 160s or low 170s. But I have not been able to make further im…

-2 to -4 Reading Comprehension, -5 to -9 LR Total, -4 to -9 On Logic Games (166-170 goal)I think that my situation here is atypical. I think I studied all wrong, and I am unsure if I am screwed because of it. I am blessed in that from …

It can be inferred that the author refers to "7sage" -primarily to refer to...So for questions where they ask you to refer to a given statement in the question stem, are we looking for a subtle answer that's not too specific in…

To delay or not to delay Feb test to June test? Weigh in!I am retaking the test for a second time and have just come off an intense run with testmasters, but as you've some people here have pointed out so w…

Comments

Howdy, Stranger!

Categories

Related Discussions

Economics concepts to know

Economics concepts to knowIt helps to know basic **supply and demand** (25, 4, 7 and 21, 2, 10) and the idea of **substitute goods** (28, 1, 17 and 26, 3, 3) but are there oth…

Help needed! How to improve from high 160s to mid to high170s?!Thanks to J.Y. and 7 sage, my PT scores have improved from the low 160s to the high 160s or low 170s. But I have not been able to make further im…

-2 to -4 Reading Comprehension, -5 to -9 LR Total, -4 to -9 On Logic Games (166-170 goal)I think that my situation here is atypical. I think I studied all wrong, and I am unsure if I am screwed because of it. I am blessed in that from …

It can be inferred that the author refers to "7sage" -primarily to refer to...So for questions where they ask you to refer to a given statement in the question stem, are we looking for a subtle answer that's not too specific in…

To delay or not to delay Feb test to June test? Weigh in!I am retaking the test for a second time and have just come off an intense run with testmasters, but as you've some people here have pointed out so w…

Comments

Economics concepts to knowIt helps to know basic supply and demand (25, 4, 7 and 21, 2, 10) and the idea of substitute goods (28, 1, 17 and 26, 3, 3) but are there oth…