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Ramsay: Hello and welcome to your course on the Innovatank platform! My name is Charles-Albert Ramsay, I am an economist, and author of content on Innovatank. We are talking today with Mr. Jean-François Parent, director of information, at Droit-Inc. It is a m...

Introduction to Demand What you’ll learn to do: explain the law of demand Imagine that the price of Ben & Jerry’s ice cream decreases by 25 percent during the next summer. What do you think will happen to the amount of Ben & Jerry’s ice cream that people wil...

Introduction to Supply What you’ll learn to do: explain the law of supply So far, you’ve learned about the role of demand in economics—which is the consumer side of the story. In this section, you’ll learn about the producer side of economics to see what fac...

Introduction to Equilibrium What you’ll learn to do: explain market equilibrium, surplus, and shortage In this section, we’ll put the two fundamental pieces of the economic puzzle—supply and demand—together and see how the two laws interact in market situati...

Introduction to the Health of the Economy What you’ll learn to do: describe how economists evaluate the health of an economy With a nominal GDP of over $20 trillion in 2018, the United States is the world’s largest economy (China was #2 at over $13 trillion)...

Introduction to Economic Stages What you’ll learn to do: identify and explain the four stages of an economy, and describe their impact on business operations In this section, we will consider the economy over time and introduce the concepts of the economic c...

Putting It Together: Economic Environment Synthesis In this module, you learned about the fundamental economic principles that affect the environment in which businesses operate. Understanding the economy is like getting the weather forecast be...

Why Should I Care? When the Bank of Canada prints too much money, we are all the poorer. But if money is insufficient, it's very difficult to obtain loans to buy a home, or start a business. We have to get this right. This Lecture Has 4 Parts Definition o...

Why Should I Care? Markets are not perfect, and the reason has to do with the type of product delivered. When products are based on long-lasting infrastructure, unit-based pricing does not work. Further, a private-market system may provide enough of this prod...

Introduction to What Is Economics? What you’ll learn to do: explain what economics is and why it’s important This section introduces the fundamental assumption of economics, scarcity—that is, that the resources we need are limited—and the associated implicat...

Why Should I Care? Our levels of employment and prosperity depend on the size of our economy. This is dictated by our rate of innovation. Inventing and producing new and creative goods and services is the key to increasing productivity and prosperity. This L...

The Science of Economies - Important Economic Terms Introduction Beer is beer, right? Well, that depends. How people consume beer varies quite a bit. Let's compare the large-scale production of bottled beer, with the small-scale production of crafty brew-pu...

Introduction to What Is Business? What you’ll learn to do: explain the concept of business The concept of business has enough definitions and applications that we could almost say that everything is business. Throughout this course, we will explore the vario...

Introduction to For-Profit vs. Nonprofit What you’ll learn to do: distinguish between for-profit and nonprofit businesses We defined business earlier as an organization that provides goods, service, or both to its customers, clients, or consumers in order to...

Introduction to Factors of Production What you’ll learn to do: list and explain the four factors of production required to sustain a business When businesses use resources to produce things, we call these factors of production. In this section, we will exami...

Introduction to Functional Areas What you’ll learn to do: identify the primary functional areas within a business and describe their contribution to the organization The decisions about how best to use the factors of production to provide the goods or servic...

Introduction to Stakeholders What you’ll learn to do: identify business stakeholders and describe their relationship with business organizations Just as it takes many parts to make a business run smoothly, there are many people, organizations, and entities t...

Introduction to Economic Systems What you’ll learn to do: describe and differentiate between major different economic systems In a society, the economic system answers three fundamental questions: What do we produce? How do we produce it? For whom d...

Why Should I Care? The financial industry holds the key to any important changes we need to make to the economy. Bankers are in the middle of the power structure of the economic system. They are a big part of the control component of the system. If we want ch...

Introduction to External Forces What you’ll learn to do: identify the external forces that shape the business environment You are probably aware that businesses do not operate in a vacuum, immune to the forces that shape our everyday life. Just like people, ...