Economics

1
Economics

• Mid-Term Review
• Chapters 1 7

2
Concepts

• Paradox of Value
• Opportunity Cost
• Trade-offs
• Economic Interdependence
• Capital Goods
• Productivity

3
Concepts

• Production Possibilities Frontier
• What does it show?
• How is the information used?
• Entrepreneurs
• Who are they?
• What is their role in the economy?

4
Concepts

• Free Enterprise Economy
• How does it function?
• Which group drives the economy?
• Role of the government?
• The 3 types of Businesses
• Sole Proprietorships
• Partnerships
• Corporations

5
Concepts

• Multinationals
• Conglomerates
• Demand Curves
• What are they?
• Movement along the curve Causes
• Movement of the curve Causes
• Reading of

6
Concepts

• Demand Elasticity
• Profit Maximizing Point
• MC MR
• Law of Supply
• Define
• Supply Curves
• What are they?
• Reading of

7
Concepts

• Supply Curves
• Movement along the curve Causes
• Movement of the curve Causes
• e-commerce
• Why would businesses engage in?
• Supply Elasticity

8
Concepts

• Production Schedule
• Reading
• Translating the schedule to a graph.
• Market Supply
• What does it show
• Law of Supply
• Define

9
Concepts

• 3 Stages of Production
• Identifying
• Characteristics
• Cost
• Total
• Fixed
• Variable
• Marginal

10
Concepts

• Federal Minimum Wage Law
• Competitive Market Economy
• Price Support
• Market Demand and Supply Schedules
• Rationing
• What is it?
• How does it work?

11
Concepts

• Market Equilibrium
• Reading Graphs
• Impact of changes in demand and supply on
  equilibrium.
• Deficiency Payments

12
Concepts

• Market Structures
• Characteristics/Descriptions
• Perfect competition
• Monopolistic Competition
• Oligopoly
• Monopoly
• Types
• Characteristics

13
Chapter 1-1 Visual Summary
14
Chapter 1-2 Visual Summary
15
Chapter 1-3 Visual Summary
16
Chapter 2-1 Visual Summary
17
Chapter 2-2 Visual Summary
18
Chapter 2-3 Visual Summary
19
Chapter 3-1 Visual Summary
20
Chapter 3-2 Visual Summary
21
Chapter 4-1 Visual Summary
22
Chapter 4-2 Visual Summary
23
Chapter 4-3 Visual Summary
24
Chapter 5-1 Visual Summary
25
Chapter 5-2 Visual Summary
26
Chapter 5-3 Visual Summary
27
Chapter 6-1 Visual Summary
28
Chapter 6-2 Visual Summary
29
Chapter 6-3 Visual Summary
30
Chapter 7-1 Visual Summary
31
Chapter 7-2 Visual Summary
32
Chapter 7-3 Visual Summary