Scarcity: The One Idea That Explains All of Economics #1
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YouTubeMicroeconomics with Michael
Scarcity: The One Idea That Explains All of Economics #1
This explainer breaks down the single core concept behind all of economics: scarcity. Through everyday examples and a simple island thought experiment, it shows how limited resources force choices, create trade-offs, and define efficiency. By introducing the Production Possibility Curve (PPC), the video explains the difference between efficient ...
2.1K views1 month ago
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