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Microeconomics Exam 1 Study Notes

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Introduction to Economics

  • Guided course
    Hello!
    00:16

Scarcity and Choice

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

People Are Rational

  • Guided course
    People Are Rational
    01:32

Marginal Analysis

  • Guided course
    Marginal Analysis
    09:36

People Respond to Incentives

  • Guided course
    Economic Incentives
    01:40

Positive and Normative Analysis

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

Graphing Review

  • Guided course
    Calculating Area of a Rectangle on Graph
    02:36
  • Guided course
    Calculating Slope of a Curve:Arc Method
    03:25
  • Guided course
    Interpreting Graphs (Part Two)
    03:02

Graphs of Two Variables

  • Guided course
    Plotting Points on a Graph
    04:34

Relationships between Variables

  • Guided course
    Drawing and Shifting Curves
    07:33

Interpreting Graphs, Correlation, Causation, and Omitted Variables

  • Guided course
    Interpreting Graphs (Part One)
    03:27
  • Guided course
    Interpreting Graphs (Part Two)
    03:02

Slope of Linear Graphs

  • Guided course
    Calculating Slope of a Straight Line
    07:47

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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

PPF - Outward Shifts

  • Guided course
    PPF - General Economic Growth
    01:55
  • Guided course
    PPF - Technological Advances in an Industry
    02:49

Circular Flow Diagram

  • Guided course
    Households and Firms
    01:32
  • Guided course
    The Circular Flow Diagram
    04:20

Competitive Markets

  • Guided course
    Introduction to Supply and Demand
    07:03

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

  • Guided course
    Consumer Income:Normal Goods and Inferior Goods
    01:48
  • Guided course
    Substitute Goods
    04:10
  • Guided course
    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
  • Guided course
    The Basics of Supply
    03:53

Shifts in the Supply Curve

  • Guided course
    Nature
    01:
  • Guided course
    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

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

Effects of Surplus

  • Guided course
    Surplus
    03:05

Effects of Shortage

  • Guided course
    Shortage
    02:01