第一章 Basic Concepts：This chapter introduces you to the principles of microeconomics and familiarize you with supply and demand diagrams, the most basic tool economists employ to analyze shifts in the economy. After completing this unit, you will be able to understand shifts in supply and demand and their implications for price and quantity sold. This understanding of the basic forces of supply and demand will serve as a foundation for the economic analysis you will undertake in the remainder of this course.1.1The Basic Concepts of Economics:This section is streamlined and more quickly addresses basic economic thought.[单选题]Microeconomics studies the allocation of选项:[unlimited resources., decision makers., models., scarce resources.]
1.2Supply and Demand:In section 2, the students have their first encounter with demand and supply and the powerful forces that determine price and quantity in a competitive market. Demand and supply lie at the heart of the principles course. Eventually in the microeconomics class, we derive the demand curve and the supply curve from deeper views of the choices that people and firms make. And in the macroeconomic class, the lessons learned here apply, albeit with subtle differences, to the aggregate supply-aggregate demand model.
1.3Elasticity Ⅰ:The student can now use the demand and supply model to generate predictions and can supplement this knowledge with the ability to provide richer predictions based on the elasticities of demand and supply. In this section, we examine 3 topics: 1, How shapes of supply and demand curves matter; 2, Sensitivity of the Quantity Demanded to Price; 3, Sensitivity of the Quantity Supplied to Price.
1.4Elasticity Ⅱ:Elasticity of Supply
[单选题]Most microeconomic models assume that decision makers wish to选项:[act selfishly., make themselves as well off as possible., None of the above., make others as well off as possible.]
[单选题]What links the decisions of consumers and firms in a market?选项:[microeconomics., the government., coordination officials., prices.]
[单选题]Which of the statements below is/are normative?选项:[Economists will use a model until it is refuted by someone., Microeconomists study economic growth., Economists need to include more reality in their models., B and C]
[单选题]Economic models are most often tested选项:[using data from the distant past., using computer simulations., using logic alone., using data from the real world.]
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