1)

Define economics:

Macro vs. Micro differences:

Scarcity (defined):

Opportunity Cost defined, example

Basic Foundations (5) of economics, examples of these fundamentals as multiple-choice questions:

What are incentives?And Kinds of incentives?:

3)

What is a market?:

Characteristics of a market?:

Define Law of Demand, demand schedule:

Examples with differences involving changes in demand (i.e., change in quantity demanded and change in demand), 1 graph illustration, what are the factors or variables which will cause a change in demand (i.e., a shift)...there's a few questions pertaining to changes involving demand or supply; a movement along a curve is caused by what?

Examples of substitutes and complements:

Define Law of Supply:

Factors or variables of a change in supply:

Table, what is equilibrium, what is a shortage or surplus?:

Graph(s), what is shortage or surplus?:

What are normal and inferior goods?:

Graph with a two-curve shift, what is new equilibrium?:

2 illustrations

What are the resulting affects on price and quantity of a one-curve shift?:

6)

Examples of price controls, such as price ceilings and floors:

What problems result with price ceilings and floors?:

What are unintended consequences of price ceilings and floors?: