Ch 5: CSET Business - Microeconomics

About This Chapter

Let us introduce you to various concepts of microeconomics. The video lessons and self-assessment quizzes in this chapter can prepare you to answer questions about microeconomics on the CSET Business Subtest II.

CSET Business - Microeconomics: Chapter Summary

Microeconomics is the branch of economics that seeks to understand the economic decisions and activities of individual consumers and firms. We've developed a series of video lessons on microeconomics that can help prepare you for the California Subject Examinations for Teachers (CSET) Business Subtest II. Through these lessons, you'll learn about efficiency and productivity as well as economic structures and competition. Other topics covered in this chapter include the following:

  • Factors of production
  • Economic incentives
  • Costs
  • Law of marginal diminishing return
  • Market supply and demand schedules
  • Upward sloping supply curves
  • Law of the downward sloping demand curve
  • Law of supply and demand
  • How changes in supply and demand affect market equilibrium

CSET Business - Microeconomics Objectives

Fifteen of the 40 multiple-choice questions on the CSET Business Subtest II focus on economics, as does one of the test's two constructed-response questions. This subtest is the second of three parts of the CSET Business Single Subject Exam, which is the credentialing exam for high school business teachers seeking certification in California.

To see if your knowledge of microeconomics is up to par, you can begin by taking the self-assessment quizzes attached to each lesson in this chapter. Once you know where your skills lie, watch the videos, and then take the quizzes again to see if your proficiency in this area has improved.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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