Hey, everyone. Welcome to microeconomics. I'm Brian, and I'm going to be your tutor. In this course, we are going to cover topics ranging from supply and demand, profit maximization, and everyone's favorite, taxes. But first, we have to lay some groundwork. Why don't we dive right in?
0. Basic Principles of Economics
Introduction to Economics
0. Basic Principles of Economics
Introduction to Economics - Online Tutor, Practice Problems & Exam Prep
Let's learn microeconomics!
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concept
Hello!
Video duration:
16sVideo transcript
2
Problem
ProblemThe opportunity cost of going to a baseball game is
A
The face value of the ticket
B
The face value of the ticket plus the cost of snacks at the ballpark
C
The total cash spent plus the value of your time
D
Zero, if you enjoyed the baseball game
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Problem
ProblemEconomics can be best defined as the study of
A
Profit maximization
B
Predicting inflation patterns
C
Income distribution and the effects of poverty
D
How society manages its scarce resources
