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Final Exam Study Guide: Principles of Microeconomics (Key Concepts)

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The Basics of Demand

  • The Basics of Demand
    06:02

Shifting Demand

  • Consumer Income: Normal Goods and Inferior Goods
    01:30
  • Consumer Preferences
    01:44
  • Number of Consumers
    02:15

The Basics of Supply

  • The Basics of Supply
    02:43

Shifting Supply

  • Percorso guidato
    Nature
    01:
  • Technology
    01:39
  • Shifting Supply
    01:56

Overview of Supply and Demand Shifts

  • Percorso guidato
    Overview of Supply and Demand Shifts
    04:07

Willingness to Sell and Producer Surplus

  • Willingness to Sell and Producer Surplus
    03:04
  • Producer Surplus and Market Supply
    04:03
  • Producer Surplus
    01:30

Revenue, Cost, and Profit

  • Percorso guidato
    Explicit and Implicit Cost
    05:51
  • Percorso guidato
    Fixed Costs and Variable Costs; Short Run and Long Run
    07:54
  • Percorso guidato
    Accounting Profit and Economic Profit
    01:59

Characteristics of Perfect Competition

  • Percorso guidato
    Characteristics of Perfect Competition
    02:29
  • Percorso guidato
    Market Demand and Individual Firm Demand
    03:57

Marginal Cost

  • Percorso guidato
    Marginal Cost
    10:48

Short Run Shutdown Decision

  • Percorso guidato
    Short Run Shutdown Decision (continued)
    07:54
  • Percorso guidato
    Short Run Shutdown Decision on the Graph
    07:05
  • Percorso guidato
    Short Run Shutdown Decision
    03:28

Long Run Entry and Exit Decision

  • Percorso guidato
    Long Run Exit/Enter Decision (continued)
    06:04
  • Percorso guidato
    Long Run Exit/Enter Decision
    02:39
  • Percorso guidato
    Long Run Exit/Enter Decision on the Graph
    09:32

Long Run Equilibrium

  • Percorso guidato
    Long Run Equilibrium
    07:04

Characteristics of Monopoly

  • Percorso guidato
    Monopoly Barriers to Entry
    06:29
  • Percorso guidato
    Characteristics of Monopoly
    02:48
  • Percorso guidato
    Monopoly Demand Curve
    04:17

Monopoly Revenue

  • Percorso guidato
    Monopoly Revenue
    03:37
  • Percorso guidato
    Monopoly and Marginal Revenue
    06:43

Monopoly Profit on the Graph

  • Percorso guidato
    Monopoly Profit on the Graph
    07:41

Monopoly Efficiency and Deadweight Loss

  • Percorso guidato
    Monopoly Efficiency and Deadweight Loss
    12:19

Price Discrimination

  • Percorso guidato
    Price Discrimination
    04:05
  • Percorso guidato
    Perfect Price Discrimination
    06:11
  • Percorso guidato
    Price Discrimination
    07:45

Externalities: Social Benefits and Social Costs

  • Percorso guidato
    Externalities on the Graph
    14:23
  • Percorso guidato
    Negative Externality and Positive Externality
    10:54

The Free Rider Problem and the Tragedy of the Commons

  • Percorso guidato
    Tragedy of the Commons
    07:34
  • Percorso guidato
    Free Rider Problem
    06:11

Four Types of Goods and Two Characteristics

  • The Four Types of Goods: Private Goods, Club Goods, Common Resources, and Public Goods
    05:41
  • Rivalry and Excludability
    04:47

Arguments Against International Trade

  • Percorso guidato
    Arguments Against International Trade
    07:50

Sources of Comparative Advantage

  • Sources of Comparative Advantage
    05:50

Tariffs

  • Percorso guidato
    Tariffs on Imports
    14:35