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? 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?