MICROECONOMICS C718
Western Governors University
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C718 Microeconomics Concepts and Videos- Western Governors University
- Exam (elaborations) • 64 pages • 2022
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Microeconomics Concepts and Videos 
Unit 1: Basic Economic Concepts 
UNIT 1 Overview- Introduction 
 Scarcity 
 Microeconomics vs. Macroeconomics 
 Positive vs. Normative Economics 
 Self-Interest and Incentives 
 Marginal Analysis 
 Opportunity Cost and Trade-offs 
 Four Factors of Production 
 Capital Goods and Future Growth 
VIDEO 1.1- Production Possibilities Curve 
 Efficiency 
 Straight vs. Bowed PPC 
 Law of Increasing Opportunity Costs 
VIDEO 1.2- Shiftin...
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