Overview: When you purchase something you may tell the cashier "thank you." Typically, the cashier will reply "thank you" as well. This concept explains why.
Overview: How may pushups can you do in 30 seconds? How many text messages can you send in 30 seconds? What would happen if you had to do pushups AND send text messages at the same time? A production possibilites curve can show you.
Overview: Money, goods, and services are constantly being exchanged. Understanding who is making these exchanges and where they are made will help you understand the important role of interdependence in the U.S. and global economy.
Overview: Is it accurate to say that one group of people live "better" than another? The concept of standard of living tries to answer that question - but sometimes comes up short. This lesson explains why.
Overview: First-come-first-served? Price? Sharing? Figuring out who gets what can be complicated! This lesson will help you understand a variety of methods people use to divide up resources, goods, and services.
Overview: It's no secret that government is significantly involved in the U.S. Economy. But do you know all the things the various levels of government do in the economy? This lesson will help you understand the complex ways the government interacts with the U.S. Economy.
Overview: As a consumer, you probably understand that prices affect your willingness and ability to buy things. This lesson will help to clarify and visualize that relationship.
Overview: When someone says "prices are set by supply and demand" what do they really mean? This concept helps clarify how market prices actually work.
Overview: Equilibrium prices are set when supply and demand move freely. What happens, though, when prices are forced to be set above or below the market equilibrium? This lesson explains.
Overview: All markets are not created equal. The market for candy does not look the same as the market for electricity. This lesson helps you understand different market structures and why they matter.
