PreparED Study Materials
ECON 200: Principles of Microeconomics
School: University of Maryland
Number of Notes and Study Guides Available: 14
Notes
Study Guides
Videos
Shoeleather Costs: The Hidden Economics of Everyday Banking Activities
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Understand the economic implications of "cost" and its relevance in daily decision-making. Learn about shoeleather costs, including its tangible and intangible components. Grasp how different scenarios impact these costs and ways to optimize them.
Analyzing Trade Policies' Impact on Producers, Consumers, and Trade
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In this video, the concepts of tariffs and trade policies are explained, highlighting how tariffs affect the cost of imported goods and how trade policies control imports and exports. The video then examines four trade policy scenarios, emphasizing their impact on producers, consumers, and trade, ultimately identifying the correct answer as option c, which fulfills all the specified conditions.
Balancing Investments: Opportunity Costs and Economic Returns Explaine
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Learn about the intricacies of opportunity cost and its broader implications. Delve into the balance between human and physical capital, understanding the risks of overinvestment. Grasp the Law of Diminishing Marginal Returns and its effects on national strategies.
Micro vs. Macro: Unraveling the Twin Pillars of Economic Study Explain
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Unpack the primary subdivisions of economics: Microeconomics, centered on individual economic agents, and Macroeconomics, which looks at broader economic trends. Understand the core differences and inherent connections between these two fields. Explore real-world examples to comprehend their implications.
Lags in Monetary and Fiscal Policy Impact on Aggregate Demand
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This video explores the causes of lags in the impact of monetary and fiscal policy on aggregate demand, drawing analogies to recognizing seasonal changes, adjusting cooking temperatures, and waiting for planted seeds to grow, and discusses the implications of these lags for the debate between active and passive economic policy approaches.
Decoding GDP per Capita & Labor Productivity: Economic Insight Explain
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Unpack the significance of GDP per Capita and Labor Productivity in economics. Learn how these indicators reflect a country's living standards and labor efficiency. Grasp the relationship between these metrics and the broader economic landscape.