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You've chosen an overview of Microeconomics. Congratulations! We hope that you'll better understand how Microeconomics affects you in your daily life.

Here is a sneak preview of what topics we will be covering in this AudioLearn overview of microeconomics.

To set down the basics, we will cover the Latin watchword of economics, "Ceteris Paribus" and some other fallacies of thinking.

We'll briefly review the problem between scarcity and unlimited needs and wants.

As we establish what microeconomics specifically analyzes, we'll discuss elasticity, utility, and maximizing on your budget.

Then you will learn about our business structures - sole proprietorships, partnerships, and corporations. You'll hear about the difference between economists and accountants and how to look at fixed and variable costs.

Next, you'll find out the difference between pure competition, monopoly, and oligopoly.

You'll learn about patents, copyrights, and trademarks and how the government helps to protect business.

Finally, we'll also shed some light on how private, public and social costs are shared, and major issues confronting microeconomics.

Sit back, adjust your volume and relax. Welcome to the world of economics.

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