NetMBA > Economics
The Demand Curve
Introduces the demand curve and lists some factors that may cause a shift in demand.
Price Elasticity of Demand
An introduction to the price elasticity of demand. Defines price elasticity, its significance, and factors that influence it.
The Supply Curve
Introduces the supply curve with an example and a brief discussion of some factors that may cause a shift in supply.
Supply and Demand
Describes how the price level is determined by the crossing of the supply and demand curves, and how a shift in supply or demand will influence the equilibrium price and quantity.
Opportunity Cost
Introduces the concept of opportunity cost and relative price. Provides simple examples.
The Production Possibility Frontier
Illustrates the effect of limited resources on the possibilities for production, and how the law of increasing cost influences the shape of the production possibilities curve.
Comparative Advantage
Introduces David Ricardo's principle of comparative advantage. By means of example, shows how specialization and trade result in more output.
NetMBA > Economics
