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Weekly Assignment 1 Fundamental Concepts in Microeconomics: Circular Flow, Production Possibilities, and Opportunity Cost

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Scarcity and Choice

  • Guided course
    Defining Economic Terms:Scarcity, Trade-offs, and Opportunity Costs
    02:39

Marginal Analysis

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    Marginal Analysis
    09:36

The Production Function and Diminishing Returns

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    The Production Function and Diminishing Returns
    07:45
  • Guided course
    Calculating Fixed Cost, Variable Cost, and Average Total Cost
    05:09

Graphs of Two Variables

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    Plotting Points on a Graph
    04:34

Finding the Maximum and Minimum Points on Graphs

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    Finding Maximum and Minimum on a Graph
    02:32

Microeconomics vs. Macroeconomics

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    Definition of Economics:Micro vs. Macro
    02:16