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Basic Economic Concepts

This course contains 3 segments:

Introduction to economics

This tutorial (that only has one video) is an overview of what economics is. In particular it will tell you the difference between microeconomics (the subject you're in right now) and macroeconomics. Really good first watch to give you some context on the world of economics.

Production possibilities frontier

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This course contains 3 segments:

Introduction to economics

This tutorial (that only has one video) is an overview of what economics is. In particular it will tell you the difference between microeconomics (the subject you're in right now) and macroeconomics. Really good first watch to give you some context on the world of economics.

Production possibilities frontier

This tutorial goes back to the basics. You are a hunter-gatherer with only so much time to hunt or gather. How do you allocate your time and energy to maximize your happiness? This is what we try to understand through our study of the production possibilities frontier and opportunity cost.

Comparative advantage and gains from trade

Should you try to produce everything yourself or only what you are best at and trade for everything else? What if you're better than your trading partners at everything? This tutorial focuses on comparative advantage, specialization and gains from trade with a microeconomic lens.

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Time
1 hours
Via
Khan Academy
This course belongs to a collection called AP®︎ Microeconomics. It's comprised of 11 courses:
  1. Theory of consumer choice
  2. Production and costs
  3. Firm behavior and market structure
  4. Factor markets
  5. Market failure and the role of government
  6. Basic Economic Concepts (viewing)
  7. Supply, demand, and market equilibrium
  8. Supply and Demand
  9. Production, cost, and the perfect competition model
  10. Imperfect competition
  11. AP®︎ Microeconomics Standards mappings
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