Chapter 1 [1] - Ten Principles of Economics

Understand the origin and meaning of the term economics, as well as the role of economic science.
Identify, describe, and explain the ten basic principles of economics, corresponding to three fundamental economic questions:
How do people make decisions? How do people interact with each other? And how does the economy as a whole work?

Study the full content of Chapter 1 in the Microeconomics textbook (in the Learning Materials section).
Review the lecture summary.
Watch the lecture video.
Complete the 50-question quiz in the Assessment section.
You may retake the quiz multiple times until you master the knowledge and achieve your desired score.
Your final score will be the average of all attempts.