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In this second lesson on elasticity we'll outline the factors that affect the relative price elasticity of demand for a... see more

The California State University and MERLOT have partnered to showcase how and why faculty have adopted Open Educational... see more

This website associates short clips from the Seinfield show to economic concepts. The authors suggest, "It is the... see more

This video lesson explains how a specific excise tax will affect the equilibrium price and quantity in the market for... see more

"The Federal Mafia exposes every facet of the government's illegal enforcement of the income tax - and will convince you... see more

Now that we've established the difference between absolute and comparative advantage, we can proceed to how countries... see more

Now that we've established the difference between absolute and comparative advantage, we can proceed to how countries... see more

So the law of demand tells us that there's an inverse relationship between a good's price and the quantity demanded. In... see more

Our study of market economies requires us to examine both the demand-side and the supply-side of product and resources... see more

Our study of market economies requires us to examine both the demand-side and the supply-side of product and resources... see more

Our study of market economies requires us to examine both the demand-side and the supply-side of product and resources... see more

The law of diminishing returns is a simple, yet fundamental concept in economics. When the producer of a good wishes to... see more

The law of diminishing returns is a simple, yet fundamental concept in economics. When the producer of a good wishes to... see more

The law of diminishing returns is a simple, yet fundamental concept in economics. When the producer of a good wishes to... see more

In a previous lesson we introduced the basic economic concepts of scarcity, opportunity cost, and the production... see more

This lesson introduces the concept of supply, the law of supply and the determinants of supply.

Why do we always get a different value for a good's elasticity of demand depending on whether the price increases or... see more

This is a free, online textbook offered by Bookboon.com. "This free textbook provides a detailed summary of the key... see more

Why does your iPhone cost $200.00? Why is the price of gas so volatile? What gives Uber the right to enact “surge... see more

This lesson illustrates two situations in which a firm in a perfectly competitive market is earning economic losses. In... see more

By looking at how a change in price affects the total revenues of producers in a market (whether TR increases or... see more

This multimedia case considers the development of the U.S. Economy up until 2005, detailing its achievements and... see more

This lesson introduces the theory of consumer behavior that says in order to optimize or maximize total happiness or... see more

This is a free textbook offered by BookBoon. 'This text presents a body of work by two Nobel Prize economists, Franco... see more