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Econ Project
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Storyboard Tekst

  • Hi, I’m Akshay!
  • And I’m Karis! Welcome to MicroVille!
  • Businesses give you income and wage...
  • And you give them labor in exchange!
  • You and your family might not know...
  • But everyone is part of the Circular Flow!
  • If you're curious about what you should produce...
  • Trade with your friends and make a truce!
  • PPCs show us what's efficient...
  • On the curve is and inside isn't!
  • The output cow goes "OOO"
  • And the input cow goes "IOU"
  • Supply goes up and demand goes down...
  • At the intersection equilibrium is found!
  • Knowing your elasticities would be wise...
  • Demand, supply, income, and cross-price!
  • A low price ceiling to protect the “takers”…
  • A high price floor to protect the “makers”
  • But when the government gets involved…
  • Deadweight Loss is left unresolved!
  • At the minimum ATC, your profits haven’t grown…
  • But at the minimum AVC, it’s time to shut down!
  • A monopoly is the only seller - that's where market supply comes from...
  • And the barriers to entry are impossible to overcome!
  • Oliogopolies rely on each other for profit...
  • And when they play the "game" correctly they'll have money in their pocket!
  • In the laissez-faire market, we rely on the invisible hand...
  • And the potential for profit is driven by demand!
  • An unintended cost or benefit is called an externality...
  • And if too little is consumed the government gives a subsidy!
  • We hope this book was a thriller! If you have more questions, ask Ms. Miller!
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