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Microeconomics Exam 1 Study Guide: Step-by-Step Guidance

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Study Guide - Learn with Videos

Curated lessons matched to your uploaded material – learn every topic step by step.

Introduction to Economics

  • Guided course
    Hello!
    00:16

Microeconomics vs. Macroeconomics

  • Guided course
    Definition of Economics:Micro vs. Macro
    02:16

People Are Rational

  • Guided course
    People Are Rational
    01:32

Positive and Normative Analysis

  • Guided course
    Identifying Statements
    02:48
  • Guided course
    Positive Statements vs. Normative Statements
    04:35

Relationships between Variables

  • Guided course
    Drawing and Shifting Curves
    07:33

Graphs of Two Variables

  • Guided course
    Plotting Points on a Graph
    04:34

Scarcity and Choice

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

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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    Understanding the PPF
    06:23
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    PPF - Attainable and Efficient
    04:48

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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    Allocative Efficiency with Marginal Analysis
    08:42
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    Increasing Marginal Opportunity Costs
    04:38

PPF - Comparative Advantage and Absolute Advantage

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    Opportunity Costs and Comparative Advantage
    06:30
  • Guided course
    Two PPFs, Specialization, and Absolute Advantage
    04:36

The Demand Curve

  • Guided course
    The Basics of Demand
    07:15
  • Guided course
    Individual Demand and Market Demand
    06:08

Shifts in the Demand Curve

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    Consumer Income:Normal Goods and Inferior Goods
    01:48
  • Guided course
    Substitute Goods
    04:10
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    Consumer Expectations
    02:18

Movement Along a Demand Curve

  • Guided course
    Shifting Demand - Warning!
    05:29

The Supply Curve

  • Guided course
    Individual Supply and Market Supply
    06:04
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    The Basics of Supply
    03:53

Shifts in the Supply Curve

  • Guided course
    Nature
    01:
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    Technology
    01:27
  • Guided course
    Substitutes in Production
    03:02

Movement Along a Supply Curve

  • Guided course
    Shifting Supply - Warning!
    03:08

Market Equilibrium

  • Guided course
    Overview of Supply and Demand Shifts
    04:07

Using the Supply and Demand Curves to Find Equilibrium

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    Equilibrium
    04:19
  • Guided course
    Results of Both Shifting
    06:34
  • Guided course
    Demand Shifts
    06:18

Price Ceilings, Price Floors, and Black Markets

  • Guided course
    Price Ceilings
    07:07
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    Price Floors and Black Markets
    08:03
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    Price Floors
    02:18

Effects of Surplus

  • Guided course
    Surplus
    03:05

Effects of Shortage

  • Guided course
    Shortage
    02:01