Learn Economic Concepts

Economics is a complex subject filled with a maze of confusing terms and details which can be difficult to explain. Even economists have trouble defining exactly what economics means. Yet, there is no doubt that the economy and the things we learn through economics affects our everyday lives.

This app help you to study of how people and groups of people use their resources. Money certainly is one of those resources, but other things can play a role in economics as well.

In an attempt to clarify all this, let's take a look at the basics of economics and why you might consider studying this complex field.

Covered Topics Below:
1) Economics Basics: Introduction
2) What Is Economics
3) Scarcity
4) Macro and Microeconomics
5) Production Possibility Frontier (PPF)
6) Opportunity Cost
7) Trade, Comparative Advantage and Absolute Advantage
8) Absolute Advantage
9) Economics Basics: Demand and Supply
10) The Law of Demand
11) The Law of Supply
12) Time and Supply
13) Supply and Demand Relationship
14) Equilibrium
15) Disequilibrium
16) Shifts vs. Movement
17) Economic Basics: Elasticity
18) Factors Affecting Demand Elasticity
19) The availability of substitutes
20) Amount of income available to spend on the good
21) Time
22) Income Elasticity of Demand
23) Economics Basics: Utility
24) Monopolies, Oligopolies and Perfect Competition
25) Economics Basics: Conclusion

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