Intro to Microeconomics & Macroeconomics

Delve into the profit maximization model using a graphical approach in this lesson and learn about calculating profit for a firm in pure economic competition.

Now that you're comfortable interpreting basic graphs, learn about maximizing profits, optimizing production, and reading data tables in this economics lesson.

Dive into economic fundamentals, including three concepts: price elasticity of demand, cross price elasticity of demand, and price elasticity of supply.

Using free international trade as an example, review the economic principles of absolute and comparative advantage, and learn why trade is good for the economy.

Looking to the United States as an example, learn about trends in income distribution and income inequality, and learn to interpret a pie chart.