For more information on the following economic concepts, click on the links below.
Scarcity, Choice, Rational Self-Interest, etc.
Macroeconomics vs. Microeconomics
Positive vs. Normative Economics
Graphs
Individual PPC
Opportunity Cost
Just a short note about the definition of "full cost" shown in the Opportunity Cost video. It should read:
Opportunity Cost = Direct (or Explicit) Cost + Indirect (or Implicit) Cost
Law of Demand
Demand vs. Quantity Demanded
Law of Supply
Market Equilibrium
Price Floors & Price Ceilings
Price Elasticity of Demand
Characteristics that Determine Elasticity
Diminishing Marginal Utility
Indifference Curve Analysis
Producer Theory
Short Run vs. Long Run
Accounting Cost vs. Economic Cost
Fixed and Variable Costs
Cost Curves
Do we really need all those diagrams?
