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Microeconomics Study Notes: Scarcity, Opportunity Cost, Production Possibilities, and Market Dynamics

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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

People Respond to Incentives

  • Guided course
    Economic Incentives
    01:40

Marginal Analysis

  • Guided course
    Marginal Analysis
    09:36

Positive and Normative Analysis

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

Microeconomics vs. Macroeconomics

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

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

PPF - Comparative Advantage and Absolute Advantage

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

PPF - Comparative Advantage and Trade

    The Demand Curve

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

    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

    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

    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

    The Supply Curve

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

    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

    Shifts in the Supply Curve

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