ECO 251: Microeconomics

Intro to Microeconomics will show you how small individual choices shape today’s complex economic systems. In this course, you’ll explore what goes down at the wild intersection of money and humanity.

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ECO103 - Microeconomics

This microeconomics course will help you earn a certificate from a US-Canadian recognized college with a certificate and transcript.
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Course curriculum

1. Introduction
1. Economics - Allocation of Resources
2. Microeconomics
3. Macroeconomics
4. Growth vs. Sustainability
5. Lesson Summary
6. Learning Outcomes
7. Quiz 1.1
1. Microeconomics Defined
2. Common Topics in Microeconomics
3. Microeconomics Terms
4. Learning Outcomes
5. Lesson Summary
6. Quiz 1.2
1. Consumers vs. Producers
2. Assumptions about the Consumer
3. Why We Care
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.3
1. Purpose of Economics
2. Scarcity
3. Utility
4. Lesson Summary
5. Quiz 1.4
1. Scarcity and Utility
2. Allocating Resources
3. Systems for Allocation
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.5
1. Productivity
2. Physical Capital and Technology
3. Human Capital and Natural Resources
4. Productivity of a Nation
5. Lesson Summary
6. Lesson Objectives
7. Quiz 1.6
1. Driven by Utility
2. What Is Utility?
3. Upgrading Efficiency
4. Real-Life Examples of Pursuing Utility
5. Lesson Summary
6. Quiz 1.7
1. Who's the Man?
2. What Can the Man Do?
3. He's Only (the Economic) Human
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.8
1. Causation vs. Correlation
2. Bias and Loaded Terminology
3. Other Fallacies
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.9
1. What Is Economics?
2. Microeconomics
3. Macroeconomics
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.10
1. Facts vs. Opinions
2. Positive Analysis
3. Normative Analysis
4. Normative and Positive in Action
5. Lesson Summary
6. Learning Outcomes
7. Quiz 1.11
1. Absolute Advantages
2. Comparative Advantages
3. Applying Advantages in Economics
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.12
1. Why Model?
2. Models for Microeconomists
3. When Models Fail
4. Lesson Summary
5. Learning Outcomes
6. Quiz 1.13
1. Introduction
1. Definition of Demand Curve
2. Characteristics of a Demand Curve Graph
3. Creating a Demand Curve Graph
4. Movement Along a Curve vs. Shifting
5. Lesson Summary
6. Learning Outcomes
7. Quiz 2.1
1. Definitions
2. Characteristics of a Supply Curve Graph
3. Movement vs. Shifting
4. Lesson Summary
5. Learning Outcomes
6. Quiz 2.2
1. Definition of Market Forces
2. Demand Force Along Curve
3. Supply Force Along Curve
4. Lesson Summary
5. Learning Outcomes
6. Quiz 2.3
1. Definition of Market Equilibrium
2. Equilibrium on a Supply and Demand Graph
3. Equilibrium Changes - Shifts in Supply & Demand
4. Lesson Summary
5. Learning Outcomes
6. Quiz 2.4
1. Finding Equilibrium
2. Shortages
3. Surpluses
4. Correcting Each
5. Lesson Summary
6. Learning Outcomes
7. Quiz 2.5
1. Shift Factors of Demand
2. Shift Factors of Supply
3. Impact on Equilibrium & Price
4. Lesson Summary
5. Learning Outcomes
6. Quiz 2.6
1. Market Forces at Equilibrium
2. Producers - Supply & Demand Shifts
3. Consumers - Supply & Demand Shift
4. Illegal Movements
5. Lesson Summary
6. Learning Outcome
7. Quiz 2.7
1. Exceptions to Equilibrium
2. Ceilings
3. Floors
4. Deadweight Loss and Interventions
5. Lesson Summary
6. Learning Outcomes
7. Quiz 2.8
1. Why Control Supply?
2. Market Forces
3. Government Controls
4. Breaking the Law
5. Lesson Summary
6. Learning Outcomes
7. Quiz 2.9
1. Different Kinds of Demand
2. Inelastic Demand
3. Examples of Inelastic Demand
4. Derived Demand
5. Types of Derived Demand
6. Lesson Summary
7. Quiz 2.10
1. Setting the Stage
2. Definition and Formula
3. Categories
4. Calculation Examples
5. Lesson Summary
6. Learning Outcomes
7. Quiz 2.11
1. Definition and Use
2. Formula and Rule of Thumb
3. Examples
4. Lesson Summary
5. Learning Outcomes
6. Quiz 2.12
1. Income Elasticity of Demand
2. Normal Goods
3. Necessities
4. Inferior Goods
5. Lesson Summary
6. Quiz 2.13
1. Calculating Price Elasticity
2. Elastic Supply
3. Inelastic Supply
4. What Determines Elasticity?
5. Long-Term Elasticity
6. Lesson Summary
7. Quiz 2.14
1. Introduction
1. Definition of Consumer
2. Microeconomic Assumptions
3. Lesson Summary
4. Learning Outcomes
5. Quiz 3.1
1. Utility for Consumers
2. Why Do Consumers Care?
3. Impact if Ignored
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.2
1. Using the Demand Curve
2. Shifting the Curve
3. Equilibrium with Supply
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.3
1. Slope and Curve of the Market Demand Curve
2. Finding Equilibrium
3. Lesson Summary
4. Learning Outcomes
5. Quiz 3.4
1. What is the Market Demand Curve?
2. Shifts in the Curve
3. Why Producers Care
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.5
1. What Is Substitution Effect?
2. What Is Income Effect?
3. Impact of These Effects on Markets
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.6
1. Types of Goods
2. Inferior Goods
3. Normal Goods
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.7
1. What Is the Engel Curve?
2. Mechanics of the Curve
3. How Producers Use the Curve
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.8
1. Consumer Preference
2. Consumer Preference Assumptions
3. Economic Importance of Consumer Choice
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.9
1. Importance of Utility
2. Optimization
3. Preferences
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.10
1. What Are Budget Constraints?
2. The Rate of Transformation Curve
3. Impact on Consumers and Producers
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.11
1. What Is an Indifference Curve?
2. How Do They Work?
3. Why Use Indifference Curves?
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.12
1. What Is the Marginal Rate of Substitution?
2. Use by Producers
3. Differing Quantities
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.13
1. Substitutes and Complements
2. Visualizing Substitutes
3. Visualizing Complements
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.14
1. Utility for Producers
2. Why Producers Care About Utility
3. Impact if Utility Is Ignored
4. Lesson Summary
5. Learning Outcomes
6. Quiz 3.15
1. Introduction
1. What Is Short-Run Production?
2. Determining Short-Run Production
3. Short-Run Production Curve
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.1
1. Theory of Production
2. Total Product
3. Average Product
4. Marginal Product
5. Lesson Summary
6. Learning Outcomes
7. Quiz 4.2
1. Costs to Producers
2. Fixed Costs
3. Variable Costs
4. Lesson Summary
5. Learning Outcome
6. Quiz 4.3
1. What Is Mixed Cost?
2. Breaking Down Mixed Cost
3. Another Example
4. Calculating Mixed Cost
5. Lesson Summary
6. Quiz 4.4
1. Definition of Unit Cost
2. Formula for Unit Cost
3. Sample Calculations
4. Lesson Summary
5. Quiz 4.5
1. Too Much of a Good Thing
2. Enough Is Enough
3. Marginal Return Curve
4. Learning Outcomes
5. Quiz 4.6
1. What Is Total Cost?
2. The Total Cost Curve
3. Making Decisions in the Short Run
4. Lesson Summary
5. Learning Outcomes:
6. Quiz 4.7
1. Short-Run Costs
2. Total Cost
3. Average Cost
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.8
1. What Is a Marginal Cost?
2. Different Costs
3. Using all Three
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.9
1. Product Curves
2. Cost Curves
3. Usefulness
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.10
1. What Is Long-Run Production?
2. Importance of Innovation
3. Examples of Long-Run Production
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.11
1. Two Time Frames
2. Short Run
3. Long Run
4. Lesson Summary
5. Learning Outcome
6. Quiz 4.12
1. Why Companies Have Many Factories
2. Importance of Marginal Costs
3. Blunders
4. Lesson Summary
5. Learning Outcomes
6. Quiz 4.13
1. Product Costing
2. Traditional vs. Activity-Based Costing
3. Formula
4. Examples
5. Analysis
6. Lesson Summary
7. Key Terms
8. Learning Outcomes
9. Quiz 4.14
1. Process Costing
2. Steps in Process Costing
3. Examples
4. Example 1
5. Example 2
6. Lesson Summary
7. Quiz 4.15
1. Introduction
1. Organization and Ownership
2. Sole Proprietorship
3. Partnership
4. Corporation
5. Limited Liability Corporation
6. Lesson Summary
7. Quiz 5.1
1. Sole Proprietorships and Small Business
2. Advantages of Sole Proprietorship
3. Disadvantages of Sole Proprietorship
4. Lesson Summary
5. Learning Outcomes
6. Quiz 5.2
1. General Partnership
2. Limited Partnership
3. Limited Liability Partnership
4. Limited Liability Limited Partnership
5. Lesson Summary
6. Learning Outcome
7. Quiz 5.3
1. General Structure
2. Formation
3. Flexibility Through the Operating Agreement
4. Member-Managed vs. Manager-Managed
5. Limited Liability
6. Pass-Through Taxation
7. Lesson Summary
8. Learning Outcomes
9. Quiz 5.4
1. The Corporate Form of Organization
2. Advantages of Corporations
3. Disadvantages of Corporations
4. S-Corps vs. C-Corps
5. Lesson Summary
6. Learning Outcomes
7. Quiz 5.5
1. Corporations
2. Double Taxation
3. Limited Liability
4. Piercing the Corporate Veil
5. Lesson Summary
6. Learning Outcomes
7. Quiz 5.6
1. What Is a Wholly Owned Subsidiary?
2. Advantages of a Wholly Owned Subsidiary
3. Disadvantages of a Wholly Owned Subsidiary
4. Lesson Summary
5. Vocabulary, Advantages & Disadvantages
6. Learning Outcomes
7. Quiz 5.7
1. What is a Private Limited Company?
2. Advantages
3. Disadvantages
4. Lesson Summary
5. Key Terms
6. Learning Outcomes
7. Quiz 5.8
1. Corporate Aquisitions
2. Corporate Mergers
3. Hostile Takeovers
4. Lesson Summary
5. Learning Outcome
6. Quiz 5.9
1. Franchise - A Proven Model for Success
2. Advantages of Franchises
3. Disadvantages of Franchises
4. Diversity in Franchising
5. Globalization - A Unique Challenge
6. Lesson Summary
7. Learning Outcomes
8. Quiz 5.10
1. What Are the Barriers to Entry
2. Types of Barriers to Entry
3. Examples of Barriers to Entry
4. Lesson Summary
5. Learning Outcomes
6. Quiz 5.11
1. Introduction
1. What Is Cost Accounting?
2. Cost Accounting Systems
3. Components of Cost Accounting
4. Cost Accounting vs. Financial Accounting
5. Lesson Summary
6. Quiz 6.1
1. What Are Transaction Costs?
2. Theory of Transaction Cost Economics
3. Types of Transactions Costs
4. Lesson Summary
5. Quiz 6.2
1. Accounting Periods Matter
2. What's the Problem?
3. Period Costs vs. Product Costs
4. Lesson Summary
5. Quiz 6.3
1. What Are Product Costs?
2. Period Costs
3. Product Costs Affect Financial Statements
4. Example
5. Lesson Summary
6. Quiz 6.4
1. What Is a Cost Driver?
2. Definition of Cost Driver
3. Examples of Cost Drivers
4. Analyzing Cost Drivers
5. Lesson Summary
6. Quiz 6.5
1. Overview of Inventory Costing
2. Job Order Costing
3. Standard Costing
4. Variance Analysis in Standard Costing
5. Lesson Summary
6. Quiz 6.6
1. Definition of Sunk Costs
2. Examples of Sunk Costs
3. Sunk Costs Topics, Examples & Explanations
4. Lesson Summary
5. Learning Outcomes
6. Quiz 6.7
1. Cost-Benefit Analysis Methods
2. Payback Period
3. Accounting Rate of Return
4. One Final Consideration
5. Lesson Summary
6. Quiz 6.8
1. Cost of Everything
2. Different Opportunity Costs
3. Lesson Summary
4. Learning Outcomes
5. Quiz 6.9
1. Types of Costs
2. Lost Profits
3. Benefits Without Expenditures
4. Lesson Summary
5. Points to Remember
6. Learning Outcomes
7. Quiz 6.10
1. What Are Explicit Costs?
2. Examples of Explicit Costs
3. Lesson Summary
4. Quiz 6.11
1. Understanding Accounting Profit
2. Accounting Profit Formulas
3. Accounting Profit vs. Economic Profit with Examples
4. Lesson Summary
5. Accounting Profit Overview
6. Learning Outcomes
7. Quiz 6.12
1. What Is Economic Profit?
2. Economic Profit vs. Accounting Profit
3. Formulas
4. Example
5. Lesson Summary
6. Learning Outcomes
7. Quiz 6.13
1. What Is Profit Maximization?
2. How Do We Calculate Profit Maximization?
3. Why Calculate Profit Maximization?
4. Profit Maximization Vocabulary & Definitions
5. Lesson Summary
6. Learning Outcomes
7. Quiz 6.14
1. Introduction
1. Perfect Competition
2. The Invisible Hand
3. Lesson Summary
4. Learning Outcomes
5. Quiz 7.1
1. What Is a Monopoly?
2. Examples of Monopolies
3. When Monopolies Are Okay
4. Lesson Summary
5. Learning Outcomes
6. Quiz 7.2
1. Monopolistic Competition
2. Conditions of Monopolistic Competition
3. Lesson Summary
4. Understanding Monopolistic Competition in Economics Overview
5. Learning Outcomes
6. Quiz 7.3
1. Definition of Natural Monopoly
2. Examples of Natural Monopolies
3. Lesson Summary
4. Review of Natural Monopolies
5. Learning Outcomes
6. Quiz 7.4
1. What Is an Oligopoly?
2. Examples of Oligopoly
3. Oligopolistic Behavior
4. Lesson Summary
5. Learning Outcomes
6. Quiz 7.5
1. What is a Command System in Economics?
2. Examples of Command Systems
3. Moral Hazard
4. The Coordination Problem
5. Lesson Summary
6. Learning Outcomes
7. Quiz 7.6
1. Capitalism and the Free Market
2. Market Price
3. Limits to Capitalism
4. Lesson Summary
5. Learning Outcomes
6. Quiz 7.7
1. The Prisoner's Dilemma
2. Game Theory in Real Life
3. Game Theory Between Negotiating Parties
4. Lesson Summary
5. Learning Outcomes
6. Quiz 7.8
1. Review of Game Theory
2. Nash Equilibrium
3. Lesson Summary
4. Nash Equilibrium & Game Theory Overview
5. Learning Outcomes
6. Quiz 7.9
1. Introduction
1. Definition of Economic Resources
2. Importance of Economic Resources
3. Human Resources
4. Nonhuman Resources
5. Lesson Summary
6. Learning Outcomes
7. Quiz 8.1
1. What Is a Resource Market?
2. Types of Resources
3. Who Owns the Resources?
4. Lesson Summary
5. Quiz 8.2
1. What is the Resource Market?
2. What is a Resource?
3. Consumers and Producers
4. Circular Flow Model
5. Lesson Summary
6. Learning Outcomes
7. Quiz 8.3
1. Scarcity in Labor
2. Why CEOs Make More than Teachers
3. Market Forces and the Labor Market
4. Lesson Summary
5. Learning Outcomes
6. Quiz 8.4
1. What is Capital?
2. Money Makes the World Go Round
3. Vehicles of Capital
4. Lesson Summary
5. Learning Outcomes
6. Quiz 8.5
1. The Problem of Natural Resources
2. Problems with Land
3. Problems with Natural Resources
4. Lesson Summary
5. Learning Outcomes
6. Quiz 8.6
1. Introduction
1. Technology
2. Evolving Phases of Technology
3. What Fuels Technology Innovation Today?
4. Lesson Summary
5. Learning Outcomes
6. Quiz 9.1
1. Business Technology
2. Communication
3. Marketing
4. Productivity
5. Customer Service
6. Lesson Summary
7. Learning Outcomes
8. Quiz 9.2
1. Definition: Research & Development
2. Pure Research
3. Applied Research
4. Development Activities
5. Lesson Summary
6. Quiz 9.3
1. Technology, Research & Development and Productivity
2. The Benefits of Higher Productivity
3. Technology Increases Productivity
4. Research and Development Leads to New Technologies
5. Lesson Summary
6. Learning Outcome
7. Quiz 9.4
1. The Impact of IT Systems
2. Business Intelligence
3. Process Automation
4. Communications
5. Lesson Summary
6. Quiz 9.5
1. Introduction
1. Regulation
2. Types of Regulation
3. Privatization
4. Deregulation
5. Cross Subsidization
6. Cost-of-Service
7. Lesson Summary
8. Learning Outcomes
9. Quiz 10.2
1. Regulation
2. Costs of Regulation in Business
3. Benefits of Regulation
4. Lesson Summary
5. Learning Outcomes
6. Quiz 10.2
1. The Regulation Questions
2. Cost-Benefit Analysis
3. The Cost of Regulation
4. The Benefits Regulation
5. Lesson Summary
6. Quiz 10.3
1. What Are Regulatory Agencies?
2. The Role of Regulatory Agencies
3. Implementing Laws
4. Enforcing Laws
5. Impact on Business
6. Processes for Implementing and Enforcing Laws
7. Enforcing Laws (in general)
8. Lesson Summary
9. Learning Outcomes
10. Quiz 10.4
1. Regulatory Agency
2. Types of Business Regulatory Agencies
3. Lesson Summary
4. Learning Outcomes
5. Quiz 10.5
1. Non-Regulatory
2. Non-Regulatory Influence
3. Learning Outcome
4. Lesson Summary
5. Quiz 10.6
1. The Business Cycle
2. Fiscal Policy
3. Monetary Policy
4. Lesson Summary
5. Learning Outcomes
6. Quiz 10.7
1. Historical Trade Barriers
2. Law as a Trade Weapon
3. Monetary Trade Barriers and Embargoes
4. What Does It All Do?
5. Lesson Summary
6. Learning Outcomes
7. Quiz 10.8
1. Taxes for Microeconomists
2. Types of Tax Structures
3. Taxes in the United States
4. Lesson Summary
5. Learning Outcomes
6. Quiz 10.9
1. What Is a Trust?
2. Trust Busting
3. Effect on the Economy
4. Lesson Summary
5. Learning Outcomes
6. Quiz 10.10
1. Why Regulate?
2. Impact of Regulation
3. Financial Regulation
4. Lesson Summary
5. Learning Outcomes
6. Quiz 10.11
1. Circular Flow of Economic Activity
2. Injections and Leakages
3. Circular Flow Model in Action
4. Lesson Summary
5. Lesson Objectives
6. Quiz 10.12
1. Assignment
1. Final Exam Instructions
2. Final Exam

About this course

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CHAPTER 1 - Introduction to Microeconomic

Ch 1.1 - Introduction to Economics: Types and Definitions

Ch 1.2 Exploring Microeconomics: Concepts and Topics

Ch 1.3 Significance of Consumer Choice: Understanding Preferences and Constraints

Ch 1.4 Microeconomic Resources: Scarcity and Utility

Ch 1.5 - Navigating Resource Allocation: Basics of Supply and Demand

Ch 1.6 -Productivity: Mathematical Analysis of Production Efficiency

Ch 1.7 - Application of Utility: Algebraic Models in Consumer Decision Making

Ch 1.8 - Economic Man: Mathematical Optimization Techniques

Ch 1.9 - Identifying Logic Pitfalls: Mathematical Reasoning in Economics

Ch 1.10 - Microeconomics vs. Macroeconomics: Algebraic Comparison

Ch 1.11 - Analyzing Normative and Positive Economics: Algebraic Framework

Ch 1.12 - Comparative and Absolute Advantage: Algebraic Approach

Ch 1.13 -Overview of Economic Models: Mathematical Applications

CHAPTER 2 - Supply and Demand in Microeconomics

Ch 2.1 - Comprehending Demand: Algebraic Representation of Demand Curves

Ch 2.2 - Supply Curve Analysis: Mathematical Interpretation

Ch 2.3 - Factors Influencing Supply and Demand: Algebraic Equations

Ch 2.4 - Market Equilibrium: Algebraic Approach to Equilibrium Price and Quantity

Ch 2.5 - Identifying Shortages and Surpluses: Algebraic Calculation

Ch 2.6 -Utilizing Market Forces: Algebraic Manipulation of Supply and Demand

Ch 2.7 - Price Controls: Algebraic Analysis of Price Ceilings and Floors

Ch 2.8 - Government Intervention: Algebraic Impact on Supply and Demand

Ch 2.9 - Government Roles in Supply Modulation

Ch 2.10 - Price Elasticity of Demand: Mathematical Calculation and Interpretation

Ch 2.11 - Cross Price Elasticity: Algebraic Formulation and Application

Ch 2.12 - Income Elasticity of Demand: Algebraic Analysis

Ch 2.13 -Price Elasticity of Supply: Algebraic Representation

Ch 2.14 - Price Elasticity of Supply in Microeconomics

CHAPTER 3 - Consumer Behavior & Microeconomics

Ch 3.1 - The Microeconomics Perspective on Consumers

Ch 3.2 - Utility Maximization: Budget Constraints and Consumer Choice

Ch 3.3 -Understanding the Individual Demand Curve

Ch 3.4 -Factors Affecting the Market Demand Curve

Ch 3.5 - Calculation and Utilization of the Market Demand Curve

Ch 3.6 - Substitution and Income Effects: Impacts on Supply and Demand

Ch 3.7 - Normal and Inferior Goods in Microeconomics

Ch 3.8 -Influence of the Engel Curve on Individual Demand

Ch 3.9 - Consumer Preferences and Choice in Economic Context

Ch 3.10 - Theories of Consumer Decision Making, Incentives, and Preferences

Ch 3.11 - Budget Lines and the Rate of Transformation in Economics

Ch 3.12 - Indifference Curves: Utilization and Impact in Economics

Ch 3.13 - Marginal Rate of Substitution: Definition, Formula, and Examples

Ch 3.14 - The Indifference Curve for Substitutes & Complements in Economics

Ch 3.15 - Economic Assumptions Regarding Utility Maximization

CHAPTER 4 - Producers in Microeconomics

Ch 4.1 - Understanding Short-Run Production: Definition and Examples

Ch 4.2 - Total Product, Average Product, and Marginal Product in Economics

Ch 4.3 - Identification of Fixed and Variable Costs for Producers

Ch 4.4 - Analysis of Mixed Costs

Ch 4.5 - Unit Cost: Definition, Formula, and Calculation

Ch 4.6 - The Law of Diminishing Marginal Returns

Ch 4.7 - Utilizing the Total Cost Curve for Short-Run Production Decisions

Ch 4.8 - Average Cost Vs. Total Cost: Decision Making in the Short-Run

Ch 4.9 - Distinguishing Marginal Costs from Average and Total Costs

Ch 4.10 - Product and Cost Curves: Definitions and Use in Production Possibility Curves

Ch 4.11 - Understanding Long-Run Production Decisions in Economics

Ch 4.12 - Short-Run Costs versus Long-Run Costs in Economics

Ch 4.13 - Economies of Scale: Definition and Impact on Fixed Costs

Ch 4.14 - Activity-Based Costing: Definition, Formula, and Examples

Ch 4.15 - Process Costing: Definition and Examples

CHAPTER 5- Business Structures & Barriers to Entry

Ch 5.1 - Organizational Structure and Ownership in Business

Ch 5.2 -Sole Proprietorship: Definition, Advantages, Disadvantages, and Examples

Ch 5.3 - Basics of Partnerships: Types and Examples

Ch 5.4 - Basics of LLCs: Limited Liability Companies

Ch 5.5 -Corporations: Types, Advantages, Disadvantages, and Examples

Ch 5.6 - Tax Structure and Liability of Corporations

Ch 5.7 - Wholly Owned Subsidiary: Definition, Advantages, and Disadvantages

Ch 5.8 - Private Limited Company: Definition, Advantages, and Disadvantages

Ch 5.9 - Corporate Expansion through Mergers and Acquisitions

Ch 5.10 -Franchises: Opportunities and Challenges

Ch 5.11 - Barriers to Entry in Economics: Definition, Types, and Examples

CHAPTER 6 - Accounting & Economic Costs

Ch 6.1 - Purpose and Components of Cost Accounting

Ch 6.2 - Transaction Costs in Economics: Definition, Theory, and Examples

Ch 6.3 - Period Costs in Accounting: Definition & Examples