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Tutor2u: Income Elasticity of Demand
This site provides a detailed study of income elasticity, which is how one's demand changes as income changes. It also gives good examples of normal and inferior goods.
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Tutor2u: Shifts in Market Demand
This is an easy to understand site that presents the law of demand, changes in quantity demanded, and the factors that cause a demand curve to shift. It also discusses how inferior goods and normal goods respond to changes in demand.
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Tutor2u: Production in the Short Run
This site defines the "short run', and shows with graphs how short run productivity relates to quantity (output).
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Tutor2u: Long Run Costs
A comprehensive, yet sophisticated explanation of long run costs of production. Includes charts and graphs to illustrate key points and concepts. Somewhat advanced in places.
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Tutor2u: Aggregate Supply
A definition, description, and graphs showing long run aggregate supply (LRAS).
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Tutor2u: Monopsony Power in Markets
A description and example of a monopsony with respect to the minimum wage.
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Tutor2u: Monopoly Price Discrimination
Many examples of price discrimination are provided, along with supporting graphs, and reasons why firms engage in this practice.
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Tutor2u: Natural Monopoly
A description and example of a natural monopoly, along with a graph showing costs and product demand.
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Tutor2 U: Economies of Scope
This site is an explanation of several factors that impact mass production. Primarily, the concept of economies of scope is explored.
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Tutor2u: Sources of Comparative Advantage
This site describes how comparative advantage and specialization cause international trade.
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Tutor2u: Market Failure Positive Externalities
This site examines how society can benefit by producing and consuming more of a product that causes a positive externality.
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Tutor2u: Opportunity Cost
This description explains the concept of opportunity cost and gives examples.
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Tutor2u: Price Elasticity of Demand
An easy to understand description of "price elasticity of demand." Includes definitions, graphs, formulas, and examples of what kinds of goods may be elastic or inelastic.
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Tutor2u: Macroeconomic Equilibrium
A definition of macroeconomic equilibrium and how it changes when either aggregate supply (AS) or aggregate demand (AD) shift. Many supporting graphs are provided to help explain this concept.
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Tutor2u: Perfect Competition Introduction
This website describes the conditions of a "perfectly competitive" market structure, and the obstacles that the individual firm in this market will face.
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Tutor2u: Public Goods
An easy to understand description of a public good, its characteristics, and examples. The public good is contrasted against a private good.
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Tutor2u: Theory of Supply
This site provides a simple definition of market supply and the supply curve. Illustrates concept with a graph.
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Tutor2 U: Economics: Scarcity and Choices
This website offers a simple examination of scarcity, finite resources, and needs vs wants.
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Tutor2u: Oligopoly
This site lists the characteristics of an oligopoly, and discusses price competition, non-price competition, and price leadership.