Learning Outcomes

In this free course, you will learn how to:

• Define 'economics'
• Discuss managerial economics
• Explain basic concepts in managerial economics
• Categorize economic functions
• Discuss the optimization techniques
• Define the concept of 'demand'
• Explain the different exceptions to the law of demand
• List the various factors influencing the supply
• Explain market equilibrium and disequilibrium situations
• Explain the concept of marginal utility
• Describe consumer equilibrium
• List factors influencing the elasticity of supply