Total Revenue Cost and Profit
Revenue is the amount received from sales.
About 20 minutes, plus any extended practice
Open lesson 1Microeconomics Models and Decisions
Calculate costs, compare opportunity costs and interpret market conditions.
Before you begin
- Use ratios, multiplication, percentages and budget constraints.
Choose by skill rather than age alone. Read with an adult when useful, revisit a lesson, or explore another grade.
Follow the lesson sequence
Comparative Advantage and Opportunity Cost
Comparative advantage concerns lower opportunity cost, not simply larger output.
About 20 minutes, plus any extended practice
Open lesson 2Supply Demand and Equilibrium
In a simple market model, equilibrium occurs where quantity supplied equals quantity demanded.
About 20 minutes, plus any extended practice
Open lesson 3Externalities and Public Decisions
An externality is a cost or benefit affecting people outside the stated transaction.
About 20 minutes, plus any extended practice
Open lesson 4Review and transfer
After the lessons, try 4 new review cases and a practical task. Each answer has an explanation and a link back to the related lesson.
Open the unit reviewGuest answers are temporary. Keep your own paper or document; this unit does not certify completion or record a school grade.
Topic references
- NCSS C3 Framework: topic reference — Calculate costs, compare opportunity costs and interpret market conditions.
These references informed the topic selection. They do not certify complete standards alignment.