Introduction to economics | Supply, demand, and market equilibrium | Microeconomics

Level: beginner

Khan Academy, 2012
Perspective: Neoclassical Economics
Topic: introductory courses
Format: Tutorial
Duration: 00:09:58
Link: https://www.youtube.com/watch?v=8JYP_wU1JTU
This short video by the Khan Academy presents a classic introduction to economic teaching. Starting with the quote by Adam Smith in "The Wealth of Nations" on the invisible hand, it shows how economics deals with the question of the allocation of scarce resources and shortly presents different questions addressed by microeconomics and macroeconomics. It further makes reference to questions of simplification in mathematical models.

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