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Microeconomics Unit 1–5 Study Guide: Core Concepts, Models, and Applications

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Factors of Production

  • Guided course
    Human Capital and Entrepreneurship
    02:08
  • Guided course
    Land, Labor, and Physical Capital
    03:09

Positive and Normative Analysis

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

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

  • PPF - Graphing Increasing Marginal Opportunity Costs
    03:33
  • PPF - The Law of Increasing Opportunity Costs
    05:04

PPF - Comparative Advantage and Absolute Advantage

  • Opportunity Costs and Comparative Advantage
    04:36
  • Different PPFs and Absolute Advantage
    02:03

PPF - Comparative Advantage and Trade

  • Comparative Advantage and Specialization in Trade
    05:30

PPF - The Price of the Trade

  • Guided course
    The Price of the Trade
    03:47

Circular Flow Diagram

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

Introduction to Supply and Demand

  • Perfect Competition
    03:23

The Basics of Demand

  • The Basics of Demand
    06:02

Shifting Demand

  • Consumer Income: Normal Goods and Inferior Goods
    01:30
  • Consumer Preferences
    01:44
  • Number of Consumers
    02:15

The Basics of Supply

  • The Basics of Supply
    02:43

Shifting Supply

  • Guided course
    Nature
    01:
  • Technology
    01:39
  • Shifting Supply
    01:56

Supply and Demand Together: Equilibrium, Shortage, and Surplus

  • Law of Supply and Demand
    02:43
  • Equilibrium
    02:41

Supply and Demand Together: One-sided Shifts

  • Guided course
    Supply Shifts
    03:36
  • Demand Shifts
    04:26

Supply and Demand Together: Both Shift

  • Guided course
    Results of Both Shifting
    06:34
  • Guided course
    Shift in Both Supply and Demand
    07:32

Supply and Demand: Quantitative Analysis

  • Guided course
    Finding Equilibrium Using Algebra
    05:11
  • Guided course
    Isolating Variables in the Demand Equation
    03:57
  • Guided course
    Finding Equilibrium with Equations and a Graph
    07:22

Price Ceilings, Price Floors, and Black Markets

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

Willingness to Pay and Consumer Surplus

  • Consumer Surplus and Market Demand
    06:03
  • Consumer Surplus
    02:15
  • Willingness to Pay and Consumer Surplus
    03:39

Willingness to Sell and Producer Surplus

  • Willingness to Sell and Producer Surplus
    03:04
  • Producer Surplus and Market Supply
    04:03
  • Producer Surplus
    01:30

Economic Surplus and Efficiency

  • Guided course
    Deadweight Loss and Market Failure
    07:08
  • Guided course
    Economic Surplus
    11:40

Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas

  • Guided course
    Overview of Price Ceilings and Floors: Identifying Prices
    09:29
  • Guided course
    Overview of Price Ceilings and Floors: Finding Consumer and Producer Surplus
    15:24
  • Guided course
    Quantitative Analysis of Price Ceilings and Floors: Finding Areas
    11:40

Introducing Taxes and Tax Incidence

  • Guided course
    Tax Incidence
    03:21
  • Guided course
    Taxes and Tax Incidence
    13:27

Effects of Taxes on a Market

  • Guided course
    Effects of Taxes
    07:49
  • Tax Revenue
    03:59

Elasticity and Taxes

  • Guided course
    Elasticity and Taxes:Perfectly Elastic Demand and Perfectly Inelastic Demand
    02:58
  • Guided course
    Elasticity and Taxes
    07:03

Percentage Change and Price Elasticity of Demand

  • Interpreting Elasticity
    04:56
  • Introducing Price Elasticity of Demand
    03:33
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 1)
    04:34

Elasticity and the Midpoint Method

  • Guided course
    The Midpoint Method
    10:04

Price Elasticity of Demand on a Graph

  • Guided course
    Price Elasticity of Demand on a Graph
    11:34

Determinants of Price Elasticity of Demand

  • Guided course
    Determinants of Price Elasticity of Demand
    06:12

Total Revenue Test

  • Guided course
    Total Revenue Test
    09:31

Income Elasticity of Demand

  • Guided course
    Income Elasticity of Demand
    10:57

Cross-Price Elasticity of Demand

  • Guided course
    Cross-Price Elasticity of Demand
    07:14

Price Elasticity of Supply

  • Guided course
    Price Elasticity of Supply
    05:38