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Microeconomics Foundations and Models: Chapter 1 Study Guide

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Introduction to Economics

  • Guided course
    Hello!
    00:16

People Are Rational

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    People Are Rational
    01:32

People Respond to Incentives

  • Guided course
    Economic Incentives
    01:40

Marginal Cost

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    Marginal Cost
    10:48

Marginal Analysis

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    Marginal Analysis
    09:36

Positive and Normative Analysis

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    Identifying Statements
    02:48
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    Positive Statements vs. Normative Statements
    04:35

Microeconomics vs. Macroeconomics

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    Definition of Economics:Micro vs. Macro
    02:16

Graphing Review

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

Percentage and Decimal Review

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    Calculating Percentage Change
    02:29

The Demand Curve

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    The Basics of Demand
    07:15
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    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

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    Shifting Demand - Warning!
    05:29