0. Basic Principles of Economics
Introduction to Economics
0. Basic Principles of Economics
Introduction to Economics - Video Tutorials & Practice Problems
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Video transcript
2
Problem
ProblemThe opportunity cost of going to a baseball game is
A
The face value of the ticket
B
The face value of the ticket plus the cost of snacks at the ballpark
C
The total cash spent plus the value of your time
D
Zero, if you enjoyed the baseball game
3
Problem
ProblemEconomics can be best defined as the study of
A
Profit maximization
B
Predicting inflation patterns
C
Income distribution and the effects of poverty
D
How society manages its scarce resources