Quick test on the basics. What do you need to review?
You should review your notes so far, and especially the material we went over in class today.
You might want to review some concepts discussed here on the blog, especially:
Look for information on the circular flow diagram, on production factors, on factor markets.
Remember to use a real, practical example. If we’re talking about markets, don’t just try to think of an abstract “market,” but think of a farmer’s market, or a flea market, or a supermarket. Use real examples and the course will be easier to understand and follow, and you’ll learn it much more easily.