Principles of Microeconomics / Unit 1 MIC 0001 short lesson, about 20 seconds
What Economics Studies
Captions available
The idea
Economics studies how people choose when they cannot have everything they want. Households, firms and governments all face that problem.
In practice
A shopper picks a brand, a farm picks a crop, a city picks a budget.
Where people slip
Economics is a set of tools, not a list of answers: it shows what a choice costs without deciding the choice.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
- Nothing. This is a starting point.
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