Economics

This subject tutorial provides lesson tutorials across several Economics topics and is designed to help you gain a wider understanding of Economics as a subject.

Lessons

• What is Economics?
• What is Microeconomics?
• The importance of consumer choice in Economics
• Purpose of Economics
• Using Utility in Business Decision Making
• Who is the Economic man?
• Common Logic Pitfalls in Economics
• Microeconomics Vs. Macroeconomics
• Comparing Normative and Positive Economics
• Comparative Vs. Absolute Advantage in Economics
• Overview of Economic Models
• Understanding the Demand Curve
• The Supply Curve
• Causes of Supply and Demand Changes
• Market Equilibrium
• Shortages and Surpluses
• Shifts in supply and demand curve
• Using market forces to manipulate supply and demand
• Derived Vs. Inelastic Demand
• Price Elasticity of Demand
• Cross Price Elasticity of Demand
• Income Elasticity of Demand
• Price Elasticity of Supply
• Entrepreneurship and the Economy
• The seven steps of decision making
• What is a Business Organization?
• Economic scarcity and function of choice
• What is opportunity cost?
• Who is a consumer?
• Using the Demand Curve
• Using the market Demand Curve
• Consumer Preference and Choice
• Definition of Unit Cost
• Definition of Process costing
• What are Economic Resources?
• What is a Resource Market?
• Definition of G.D.P - Gross Domestic Product
• Types of Unemployment
• The Four Basic Functions of Money
• What is Money?