1 - Introduction to Economics
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
Define economics in your own words.
💡 Hint: Think about choices and resources.
What is an economy?
💡 Hint: Consider who earns a living and how.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the main focus of economics?
💡 Hint: Think about how societies make choices.
True or False: Scarcity means that there are unlimited resources available.
💡 Hint: Recall the definition of scarcity.
Get performance evaluation
Challenge Problems
Push your limits with advanced challenges
Consider a scenario where you have $50 for the weekend. You can spend it on groceries, entertainment, or saving for a new phone. Create a decision matrix considering your wants and the opportunity costs involved.
💡 Hint: Use a table to compare the options.
A country has a choice to allocate its resources between education and military funding. Discuss the opportunity costs involved in both options.
💡 Hint: Draw connections between education investment and long-term socio-economic benefits.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.