ECONOMIC THEORIES & STUDIES
The Three Economic Questions
Scarcity & Choices (Key Concept)
Microeconomics
Macroeconomics
Economic History
Study of Economics
Function of an Economy
Economics Model Building
Change (Key Concept)
Interdependence (Key Concept)
CONCEPTS
Production Possibility Frontier
DEMAND
Demand
Income Elasticity of Demand
Price Elasticity of Demand
SUPPLY & EQUILIBRIUM
Supply
Price Elasticity of Supply
Market Equilibrium
Total Revenue
Price Mechanisms
Allocation
GOVERNMENT INTERVENTION
Government Intervention (Key Concept)
Surplus
Indirect Taxes
Subsidies
MARKET FAILURE
Market Failure
Externalities
Government Responses to Externalities
SUSTAINABILITY
Sustainability (Key Concept)
Common Pool Resources
Sustainability Solutions
BEHAVIORAL ECONOMICS
Homo Economicus
Consumer Rationality Limitations
Rationality of Business Economics
Asymmetric Information
Government Responses to Asymmetric Information
Influences on Economic Choices
RATIONAL PRODUCER BEHAVIOR
Competition (Key Concept)
Market Structure
Market Power
Producer Behavior
Monopolies
Monopolistic Competition
Oligopolies
MACROECONOMICS
Objectives of Macroeconomics
Economic Structure
Macroeconomic Tools
Productivity
Economic Growth
Exports and Imports
Business Cycle
Aggregate Demand
Aggregate Supply
ADDITIONAL CONCEPTS & DEFINITIONS
Efficiency (Key Concept)
Equity (Key Concept)
Economic Well-being (Key Concept)
Economic Goods
Statements
Marginal Utility
Commodity
National Income
Opportunity Cost
Monetary Policy
Fiscal Policy
ADDITIONAL RESOURCES
Real-World Examples