Basics of Economics

Topics Covered:

Section I

Principles of Economics

Exercise on Applying the Principles of Ecnonomics: Costs and Benefits

Solution to the Exercise on Applying the Principles of Economics: Costs and Benefits

Exercise on Applying the Principles of Economics: Government Role

Solution to the Exercise on Applying the Principles of Economics: Government Role

The Market Forces of Supply and Demand

Exercise on Demand Curve Shifters

Solution to the Exercise on Demand Curve Shifters

Exercise on Supply Curve

Solution to the Exercise on Supply Curve

Exercise on Shifts in Supply & Demand

Solution to the Exercise on Shifts in Demand and Supply (Event A)

Solution to the Exercise on Shifts in Demand and Supply (Event B)

Solution to the Exercise on Shifts in Demand and Supply (Event C)

Elasticity and its Application

Exercise on Calculating the Elasticity

Solution to the Exercise on Calculating the Elasticity

Exercise-1 on Elasticity and Expenditure/Revenue

Solution to the Exercise-1 on Elasticity and Expenditure/Revenue

Exercise-2 on Elasticity and Expenditure/Revenue

Solution to the Exercise-2 on Elasticity and Expenditure/Revenue

Exercise on Elasticity and Changes in Equilibrium

Solution to the Exercise on Elasticity and Changes in Equilibrium

Practice Test on Elasticity and its Application

Solution to the Practice Test on Elasticity and its Application

Practice Test-1 on Elasticity and its Application

Solution to Practice Test-1 on Elasticity and its Application

Practice Test-2 on Elasticity and its Application

Solution to Practice Test-2 on Elasticity and its Application

Practice Test-3 on Elasticity and its Application

Solution to Practice Test-3 on Elasticity and its Application

Section II

The Costs of Production

Exercise on Accounting Profit versus Economic Profit

Solution to the Exercise on Accounting Profit versus Economic Profit

Exercise on Calculating costs

Solution to the Exercise on Calculating costs

Practice Test-1 on Costs of Production

Solution to Practice Test-1 on Costs of Production

Practice Test-2 on Costs of Production

Solution to Practice Test-2 on Costs of Production

Section III

Firms in Competitive Markets

Monopoly

Oligopoly

Exercise on Revenue of a Competitive Firm

Solution to the Exercise on Revenue of a Competitive Firm<

Exercise-1 on Identifying a firm's profit

Solution-1 to the Exercise on Identifying a firm's profit

Exercise-2 on Identifying a firm's profit

Solution-2 to the Exercise on Identifying a firm's profit

Exercise on Zero-Profit Condition

Solution to the Exercise on Zero-Profit Condition

Exercise-1 on Monopoly's Revenue

Solution-1 to the Exercise on Monopoly's Revenue

Exercise-1 on Collusion vs. self-interest

Solution-1 to the Exercise on Collusion vs. self-interest

Exercise-2 on Collusion vs. self-interest

Solution-2 to the Exercise on Collusion vs. self-interest

Exercise on Fare Wars Game

Solution to the Exercise on Fare Wars Game

Practice Test on Firms in Competitive Markets

Solution to Practice Test on Costs of Production

Practice Test on Monopoly

Solution to Practice Test on Monopoly

Practice Test on Oligopoly

Solution to Practice Test on Oligopoly

Overall Practice Test

Overall Practice Test-1 on Economics

Solution to Overall Practice Test-1 on Economics

Overall Practice Test-2 on Economics

Solution to Overall Practice Test-2 on Economics

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Date of last modification: 2023