Lecture Microeconomics (20/e): Chapter 1 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

This chapter introduces many of the fundamental concepts in economics and covers a wide variety of concepts. It begins with the definition of economics; then the economic perspective is discussed. After that, the discussion moves to the development of economic theory. The individual’s and society’s economizing problems are examined using a budget line and production possibilities curves where economic growth is addressed. The Last Word deals with common mistakes students make when thinking about economics.