Section outline

  • Video One (Opportunity Cost) 

     Video Two (Is Greed Good?) 

    After viewing videos one and two answer the following study questions: 

    1) Describe what opportunity cost is. 2) In thinking about the concept of opportunity cost, why do you think that economists say "There is no such thing as a free lunch"? 3) What is your opportunity cost of attending school? 4) In thinking about video two, do you think that greed is good? 5) Milton Friedman says that our nation and others like it run on greed. Why do you think that he says that? Explain. 6) Friedman also states that most of the great accomplishments in the world were made because of greed. He states that people such as Einstein didn't make human progress because the government required him to do it, but because of his own self-interest. Do you agree or disagree? Explain. 

    Video Three (Utility Maximization Rule) Study questions are in the details of the video; Click "Show More" below the video to see the study questions.



     (Production Possibilities Curves) Study questions are in the details of the video; Click "Show More" below the video to see the study questions.


     (Comparative Advantage)