PreparED Study Materials
ECON 2006: Principles of Economics
School: Virginia Polytechnic Institute and State University
Number of Notes and Study Guides Available: 7
Notes
Study Guides
Videos
Unpacking Long-Run Growth: The Pivotal Role of Rising Productivity
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Unravel the complexities of long-run economic growth and its driving factors. Discover why rising productivity stands out as the cornerstone of sustainable economic expansion. Understand the role of various elements in shaping a nation's economic trajectory.
Urban Development: New Cities' Impact and Equilibrium
Want To Learn More? To watch the entire video and ALL of the videos in the series:
This video explores urban utility curves, workforce dynamics, and the impact of creating new cities on growth and equilibrium, with a focus on the utility of workers.
Decoding GDP per Capita & Labor Productivity: Economic Insight Explain
Want To Learn More? To watch the entire video and ALL of the videos in the series:
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.
Monopolies & Price Discrimination: Myths, Truths & Insights
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the intricacies of monopolies and price discrimination in the market. Unpack myths and truths about consumer behavior and pricing strategies. Real-life examples illuminate these fundamental economic concepts.
Opportunity Cost Explained: Weighing Choices in Business Decisions
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Discover the principle of opportunity cost, distinguishing between explicit and implicit costs. Using the example of Hanna's Pizzeria, grasp how business decisions weigh the costs of forgone alternatives. Learn how these costs influence financial and economic choices.
Scarcity: Balancing Infinite Wants with Limited Resources in Economics
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the fundamental concept of scarcity in economics. Understand the tension between our infinite desires and the finite resources we have. Grasp how scarcity influences our choices, necessitating trade-offs in everyday decisions.