PreparED Study Materials
Notes
Videos
Theory of Liquidity Preference: Interest Rate Adjustment
Want To Learn More? To watch the entire video and ALL of the videos in the series:
In this video, we explore the theory of liquidity preference, which focuses on how an economy's interest rate adjusts to balance supply and demand for money. We evaluate a multiple-choice question and discuss each option's alignment with various economic theories without revealing the correct answer.
Demystifying Assumptions: Economists' Key to Decoding Complex Markets
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Discover the pivotal role of assumptions in economics as we navigate the challenges of studying intricate market behaviors and human actions. Unveil how these simplifications foster comprehensive economic analyses and predictions.
Pros and Cons of Government-Created Monopolies
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the concept of government-created monopolies, which are entities granted exclusive rights, like licenses, patents, and copyrights. While they can promote innovation and efficiently operate in high-cost industries, they might also introduce inefficiencies and stifle competition. Weighing the pros and cons is essential.
Profit-Maximizing in Competitive Markets: Unraveling P=MC & Its Impact
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Discover the power of the profit-maximizing rule in perfectly competitive markets. Unearth how setting price equal to marginal cost optimizes consumer and producer benefits. Grasp the significance of this rule for societal resource utilization.
Economists' Diverse Views: Advising Policymakers with Perspective
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the multifaceted role of economists in society, their interpretation of complex economic data, and how they provide guidance to decision-makers. Discover why economists may offer conflicting advice due to varying economic theories, data interpretation, personal values, and political ideologies.
Economic Resources Explained: The Pillars of Production in the Economy
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Uncover the fundamental concept of economic resources and their pivotal roles. From land and labor to capital and entrepreneurship, grasp the intricacies that drive production. Experience an insightful look into the elements shaping our economic activities.