Economics is important, both at home and at work. In this course, you will discover what economics is and how it is related to company profit and consumer choices. You will also learn about scarcity and how consumer choices impact economics.

Learning Objectives
  • Identify how economics affects your life in practical ways
  • Describe what economics is and how it helps you make more informed decisions at home and work
  • Summarize key economic terms
  • Analyze the relationships between free market systems, profit, and competition
  • Distinguish between the roles of consumers and stockholders in free markets
  • Describe the value of sharing ideas and its effect on productivity and profit
  • Describe how managers and front-line employees work together to improve productivity and profits
Language: English
Estimate Time (Hrs.): 1.2
In this course, you will discover the meaning of key economic terms, such as costs, revenue, profit, risk, and return on investment. You will evaluate risk to reward assessment when considering investing capital into companies or new startup business ideas. You will also learn about the profit margin misconception.

Learning Objectives
  • Define key economics terms
  • Explain the risk to reward assessment performed by stockholders and entrepreneurs
  • Explain the profit margin misconception
  • Describe the relationship of profit margins to the future success of an organization
  • Summarize the importance of teamwork and collaboration among managers and front-line associates

Language: English
Estimate Time (Hrs.): 1.1
In this course, you will discover how business competition drives innovation and productivity. You will learn why consumers seek out substitutions for products. You will also find out what is needed to assess a competitive advantage and how specialization and continuous improvement help drive advantage in the marketplace.

Learning Objectives
  • Define business competition
  • Identify the benefits of competition
  • Explain the reasons why competition arises in a market
  • Summarize why consumers seek out substitutes
  • Describe how specialization, continuous improvement, and skills enhancements help drive productivity
Language: English
Estimate Time (Hrs.): 0.9