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Lehigh University — ECO 001 Principles of Economics — Final Exam WITH Questions And Answers With Rationales
Lehigh University — ECO 001 Principles of Economic
Lehigh University — ECO 001 Principles of Economic
COURSE TOPICS COVERED ECO 001 covers both microeconomics and macroeconomics. Key topics include: Topic Area Specific Topics Foundations of Economics Scarcity, choice, opportunity cost, marginal analysis, economic models Supply & Demand Law of demand/supply, market equilibrium, shifts, price controls Elasticity Price elasticity of demand/supply, income elasticity, cross-price elasticity Consumer & Producer Surplus Welfare analysis, efficiency, deadweight loss Production & Costs Short-run...
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