Principles of Microeconomics - Chapter 1: Ten Principles of Economics
4.0(3)
24 learners
What you'll learn
This course includes
21.5 hours of video
Certificate of completion
Access on mobile and TV
Summary
Full Transcript
What is economics? 0:38
People face tradeoffs 10:45
The cost of something is what you give up to get it 14:16
- Opportunity cost 15:43
People respond to incentives 21:48
- Types of incentives 22:53
People think at the margin 35:28
Trade can make everyone better off 43:22
Markets are usually the best way to organize economic activity 46:33
Sometimes government can improve the market outcome 49:12
A country's standard of living 50:30
Printing too much money creates inflation 51:46
Inflation vs unemployment 52:17
Dr. Azevedo
Department of Economics
University of Central Missouri
Continue this lesson in the app
Install CourseHive on Android or iOS to keep learning while you move.
