Welcome to our third ever blog in our economics masterclass. Today we will be going over and Understanding Scarcity, Choice, and Resource Allocation.
[Section 1.4: Scarcity, Choice, and Allocation of Resources
The basic economic problem stems from scarcity, where wants are unlimited, but resources are finite, necessitating choices. Optimal utilization and...
In our second ever blog in our economics masterclass, we will be going over the extremely basic yet important basics of the markets. Today we will be going over Economic Methodology, The Nature and Purpose of Economic Activity and Economic Resources.
Economic methodology
Now Economics is a social science, it seeks to understand how individuals, businesses,...
Welcome to my first ever post! Starting today, I will be embarking on a journey to try and spread the knowledge about the world of economics. As a 16-year-old student who is undertaking their A-Levels, I want to share some of the knowledge I am getting and I am excited to share my knowledge and insights on micro and macro economics over the next year and a...
