Free online courseMicroeconomics: Basic Economics Concepts

Conteúdo do Curso

• Video class: NEW- Micro Unit 1 Summary- Basic Economic Concepts

  0h26m

• Exercise: In a free market economy, which of the following is a primary driver of resource allocation?

• Video class: This WILL be on your Unit 1 Test

  0h06m

• Exercise: In microeconomics, the concept of opportunity cost is crucial. If you are at one point on a production possibilities curve (PPC) and move to another point along the same curve, what are you demonstrating?

• Video class: Macro and Micro Unit 1- Practice Questions #1

  0h20m

• Exercise: Which of the following best describes the primary function of the price mechanism in a free market economy?

• Video class: Micro Unit 1- Practice Questions #2

  0h10m

• Exercise: In the context of trade between two countries, which statement is most accurate regarding comparative advantage?

• Video class: Thinking Like An Economist- Macro/MicroTopic 1.1

  0h07m

• Video class: Economic Systems: Why is Communist China doing so well? Micro Topic 1.2

  0h04m

• Exercise: What is one reason for China's significant economic growth since 1979?

• Video class: Production Possibilities Curve- Macro Topic 1.2 (Micro Topic 1.3)

  0h07m

• Exercise: What does a point inside the Production Possibilities Curve (PPC) illustrate?

• Video class: Production Possibilities Curve Review

  0h05m

• Exercise: In the context of a production possibilities curve (PPC), what does a point inside the curve represent?

• Video class: Comparative Advantage and Trade - Macro Topic 1.3 (Micro Topic 1.4)

  0h08m

• Exercise: In the context of international trade, what does the concept of 'comparative advantage' suggest?

• Video class: Comparative Advantage Practice

  0h19m

• Exercise: What is the main concept that microeconomics seeks to explain when discussing the benefits of trade between individuals or nations?

• Video class: 5 comparative advantage HACKS you need to know

  0h07m

• Exercise: In an economy, Country A can produce either 10 tons of wheat or 5 tons of corn in a given time period, while Country B can produce either 6 tons of wheat or 6 tons of corn. Which of the following best describes the comparative advantage in this scenario?

• Video class: Terms of Trade Practice- Comparative Advantage

  0h06m

• Exercise: If two countries, Country A and Country B, are considering trade, which of the following terms of trade would be mutually beneficial given that Country A's opportunity cost of producing one unit of Good X is 2 units of Good Y, and Country B's opportunity cost of producing one unit of Good X is 3 units of Good Y?

• Video class: Cost-Benefit Analysis- Micro Topic 1.5

  0h07m

• Exercise: In the context of opportunity costs, which of the following best represents a decision-making scenario?

• Video class: Marginal Analysis and Consumer Choice- Micro Topic 1.6

  0h09m

• Exercise: Consider you're at an amusement park with $20 to spend on rides that have different levels of satisfaction (measured in utils). Ride A provides 50 utils per ride for $5, while Ride B offers 30 utils per ride for $3. Assuming no waiting lines, which combination of rides will maximize your total utility?

• Video class: EconMovies #10- Hunger Games

  0h07m

• Exercise: In which scenario would an individual have a comparative advantage?

• Video class: EconMovies #1: Star Wars (Reupload)

  0h06m

• Exercise: In the context of microeconomics, what is meant by 'voluntary exchange'?

• Video class: EconMovies #3: Monsters Inc (Reupload)

  0h04m

• Video class: EconMovies #2: Monty Python and the Holy Grail (Reupload)

  0h05m

• Video class: Circular Flow Matrix- How the economy works

  0h04m

• Exercise: In a circular flow model, what role do households primarily play within the resource market?

• Video class: EconMovies #12- The Terminator

  0h08m

• Exercise: In economic terms, what does the concept of 'involuntary exchange' refer to?