Foundations of Economics: The Law of Scarcity

Foundations of Economics: The Law of Scarcity Most of the basic laws of economics focus on ways to efficiently build wealth and prosperity over time. ¬†But there are important financial concepts that turn this problem in the other direction, instead choosing to focus on the effects that a lack of available resources can have on … Continue reading Foundations of Economics: The Law of Scarcity

Consumer Economics: What is the Market Absorption Rate?

Consumer Economics: What is the Market Absorption Rate? In school, some students avoid economics because they might feel as though the lessons have little-or-no application in the real world. ¬†Unfortunately, this is usually not actually the case. Economics concepts play many roles in our daily lives – and if we can understand how these concepts … Continue reading Consumer Economics: What is the Market Absorption Rate?