Units: 3
Transferability: UC, CSU

Advisory: Eligibility for English 28. students make take Econ. 1 or Econ. 2 in any order.
However it is suggested to take Econ. 1 first, then take Econ. 2.

Description: A study of the individual business firm.

Basic definitions

• The production function
• Opportunity cost
• The production possibilities curve
• The double flow of income
• Supply and demand
• Elasticity
• Total and marginal utility
• Costs
• Perfect competition
• Monopoly
• Imperfect competition
• Oligopoly

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