Economics

This badge demonstrates the earner's ability to describe issues related to asymmetric information in markets and potential solutions that create equilibrium.

This badge demonstrates the earner's ability to distinguish among private goods, public goods and common resources, discuss issues related to each and possible solutions.

This badge demonstrates the earner's ability to describe the processes, techniques and limitations of using monetary policy and resulting actions to achieve macroeconomic objectives.

This badge demonstrates the earner's ability to describe the processes, techniques and limitations of using monetary policy and resulting actions to achieve macroeconomic objectives.

This badge demonstrates the earner's ability to define inflation and its effects, and explain how the quantity of money and velocity of circulation can be used to predict and calculate inflation.

This badge demonstrates the earner's ability to describe monopolistic competition and explain how a firm in monopolistic competition determines its output and price in the short run and the long run.

This badge demonstrates the earner's ability to explain issues related to single-price and price-discriminating monopolies and compare the performance of a single-price monopoly with that of perfect competition.

This badge demonstrates the earner's ability to explain issues related to single-price and price-discriminating monopolies and compare the performance of a single-price monopoly with that of perfect competition.

This badge demonstrates the earner's ability to explain why negative and positive externalities lead to inefficient overproduction or underproduction, respectively, and factors that can achieve a more efficient outcome.

This badge demonstrates the earner's ability to describe oligopoly, explain how it arises, and use game theory to explain how price and quantity are determined in oligopoly.

This badge demonstrates the earner's ability to describe oligopoly, explain how it arises, and use game theory to explain how price and quantity are determined in oligopoly and describe antitrust laws that regulate oligopoly.

This badge demonstrates the earner's ability to define opportunity cost and explain its implications for economic decision-making.

This badge demonstrates the earner's ability to explain a perfectly competitive firm's profit-maximizing choices, derive its supply curve, and explain how output, price, and profit are determined in the short run and in the long run.

This badge demonstrates the earner's ability to distinguish among private goods, public goods and common resources, discuss issues related to each and possible solutions.

This badge demonstrates the earner's ability to describe the importance of rational choice to economics.

This badge demonstrates the earner's ability to explain how the banking system creates money and how the Fed controls the quantity of money.

This badge demonstrates the earner's ability to define and explain the concept of scarcity in economics.

This badge demonstrates the earner's ability to explain economic and accounting measures of production costs, the relationship between output and labor employed in the short run, and the relationship between a firm's output and costs in the short run.

This badge demonstrates the earner's ability to explain the law of supply, a supply schedule and a supply curve and describe how different factors affect supply.

This badge demonstrates the earner's ability to explain the law of demand, a demand schedule and a demand curve and describe how different factors affect demand explain the law of supply, a supply schedule and a supply curve and describe how different factors affect supply.