niceguy_jay
May 18th, 2007, 04:17 PM
These are the key concepts covered very nicely....
Definition of Economics
Entrepreneurial ability
Microeconomics vs. Macroeconomics
Opportunity Cost
Production Possibilities Curve
Barter vs. markets
Demand
Supply
Price ceilings and price floors
Market coordination
Government in the circular flow
Externalities
Public goods
Price elasticity of demand
Elasticity and total revenue
Cross-price elasticity of demand
Utility
Indifference curves
Production
Total Costs
Average and marginal costs
Long-run costs
Profit maximization
Marginal Revenue and Marginal Cost
market structures perfect competition, monopoly, monopolistic competition, and oligopoly
Short-run supply curve Long Run curve
Game theory
antitrust laws
Government and Market Failure
Individual firm demand
Monopsony resource markets
labor market
Wage differentials
Team production
Statistical discrimination
Occupational segregation
Antidiscrimination laws
Capital
aging, social security, and health care
Income Distribution
Poverty
with proper graphical illustration
Definition of Economics
Entrepreneurial ability
Microeconomics vs. Macroeconomics
Opportunity Cost
Production Possibilities Curve
Barter vs. markets
Demand
Supply
Price ceilings and price floors
Market coordination
Government in the circular flow
Externalities
Public goods
Price elasticity of demand
Elasticity and total revenue
Cross-price elasticity of demand
Utility
Indifference curves
Production
Total Costs
Average and marginal costs
Long-run costs
Profit maximization
Marginal Revenue and Marginal Cost
market structures perfect competition, monopoly, monopolistic competition, and oligopoly
Short-run supply curve Long Run curve
Game theory
antitrust laws
Government and Market Failure
Individual firm demand
Monopsony resource markets
labor market
Wage differentials
Team production
Statistical discrimination
Occupational segregation
Antidiscrimination laws
Capital
aging, social security, and health care
Income Distribution
Poverty
with proper graphical illustration