Learning objectives; the economic problem; the factors of production; outputs - the problem of choice; opportunity cost; other economic problems; economic systems; the layout of economics; consumer choice - marginal utility; determining the market price - supply and demand; measuring response to price - elasticity; production decisions - input/output relationships; market structures - the perfect competitive market; market structures - the monopoly; market structures - imperfect competition; market economy vs controlled economy - privatization and nationalization.
