New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Econ 2020-004

Star Star Star Star Star
1 review
by: Cameron Martinez

Econ 2020-004 Econ 2020

Cameron Martinez
University of Memphis
GPA 3.0

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

These are the first set of notes for the first week of intro to Microeconomics. there are a few places in the notes where I describe a graph, this may be difficult to imagine due to the complexity ...
Intro to Microeconomics
Dr. Campbell
Class Notes
micro, Economics, Econ 2020, 004
25 ?




Star Star Star Star Star
1 review
Star Star Star Star Star
"So much better than office hours. Needed something I could understand, and I got it. Will be turning back to StudySoup in the future"
Ms. Noemie Klein

Popular in Intro to Microeconomics

Popular in Economcs

This 4 page Class Notes was uploaded by Cameron Martinez on Thursday January 21, 2016. The Class Notes belongs to Econ 2020 at University of Memphis taught by Dr. Campbell in Winter 2016. Since its upload, it has received 47 views. For similar materials see Intro to Microeconomics in Economcs at University of Memphis.

Similar to Econ 2020 at University of Memphis


Reviews for Econ 2020-004

Star Star Star Star Star

So much better than office hours. Needed something I could understand, and I got it. Will be turning back to StudySoup in the future

-Ms. Noemie Klein


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 01/21/16
Cameron Martinez January 21 2016 Intro to Microeconomics Campbell Notes: Review: Opportunity cost is the value of the thing you didn’t do over what you did do. (PPF)  Production (for two goods or services-the most that we could make-over a period of time)  Possibilities (brings to mind what could be the case)  Frontier (implies an outer limit or a boundary) – You cannot produce any point above and to the right of the frontier. *There’s a graph* *I drew it with some stuff on it* -The maximum amount of two goods or services that a nation can produce over a period of time given available resources. -When there aren’t enough available resources, U.S. cannot produce the max amount of food and cloth... This is called Unattainable (when you lack sufficient resources and/or technology) -All points on the Frontier (The curve of the graph) are fully attainable and efficient. All of the resources are fully exploited *There’s another graph* (Increasing marginal~the benefit and cost of one individual decision, “point A to point B”~opportunity cost) -When producing at a point on the PPF, making more of one good requires making less of another. -per unit opportunity cost (What we give up divided by what we gain)  Specialized resources (…) -PPF Increase (results from an increase in available resources or advancements in technology) *as a result, we can make more of one good, more of the other good, or more of both. -what all this means is that we have an increase in the standard of living. Meaning we can SATISFY MORE [WANTS & NEEDS] -An increase in PPF requires a reallocation of resources. *There’s a graph* Cameron Martinez January 19, 2016 Intro to Microeconomics Campbell Notes Description: Dr. Campbell EMAIL: Office Hr’s: Wednesday, 1:00 pm – 2:00 pm Book: Text Required: not actually, Link to (Inquizative-hw website catalog we’ll be using) EXAMS & SUCH: there will be 3 midterms (50%) and a final exam (25%) and hw assignments (25%) of grade. Attendance: Attendance does not affect grade. Show up to class to learn the material. Late Assignments: No late assignments will be accepted. Bonus Points: Making good on all 4 practice quizzes will add up to 2.0 points to final grade, NOT final exam, Final grade. Book purchase: chapter 4 should say “Elasticity” if it’s “price control” wrong version .. student code is 13673 .. use the code after buying the access code which is 8 characters. Moblab: Download, register, create a user name and password, use 8 character registration code 1x78bnnt . TIPS: read, view, review .. change study habbits .. Notes: Economics – A behavioral(why we do what we do) science(scientific method on terms of research). Scarcity – stems from the idea that we’re never able to satisfy all of our wants and needs. Rescources – land, labor, capital, & natural recources which is most important *scarce* Economic System – what connects ‘wants & needs’*unlimited* to recources.. Goods & Services - are used to satisfy ‘wants & needs’.  In Economics there are two fundamental assumptions about people 1. People are rational 2. People act in their own self interest Opportunity Cost – the value of the next best alternative not chosen ~minimizing opportunity cost~ bbbbbbbbis about choosing the best option with the greatest gain, and thus the lowest cost.


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Allison Fischer University of Alabama

"I signed up to be an Elite Notetaker with 2 of my sorority sisters this semester. We just posted our notes weekly and were each making over $600 per month. I LOVE StudySoup!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.