ECONOMICS ESSENTIALS DISCUSSION QUESTIONS
ECONOMICS ESSENTIALS DISCUSSION QUESTIONS
Q1 What is economics?
Q2 What is an economic model?
Q3 What are variables – and which matter most?
Q4 What are economic indicators?
Q5 How do economists think about costs?
ECONOMICS ESSENTIALS DISCUSSION QUESTIONS
Q6 What are the factors of production?
Q7 What is ‘rent’?
Q8 What is marginal analysis?
Q9 What is opportunity cost?
Q10 What is utility?
Q11 What is a price?
Q12 Why do economists focus on the consumer?
Q13 Why do economists assume people are rational?
Q14 What is bounded rationality?
Q15 Why are expectations important?
Q16 What is consumer surplus?
Q17 What is producer surplus?
ECONOMICS ESSENTIALS DISCUSSION QUESTIONS
Q18 What is a deadweight loss?
Q19 What are economic incentives and why do people react to them?
Q20 What is the ‘market’?
Q21 What is market failure?
Q22 What is equilibrium?
Q23 What are excess supply and excess demand?
Q24 What are comparative statics?
Q25 What is market structure?
Q26 Why do monopolies matter?
Q27 What is aggregate demand / supply?
Q28 Why are the supply chains of some companies more connected than
others?
Q29 What is a barrier to entry or exit?
Q30 What is game theory and how does it help to make people better
off?
Q31 What is an index?
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