Introduction: Marginal Analysis! An important tool for everyone to keep in mind. Whether you are running your own business or trying to finish AP Microeconomics, marginal analysis constantly drives our decision on the back end. All of us have at least asked ourselves this question before: “ Which one do I want?” For most of … More Marginal Analysis: More Utils, More Happiness
There is one question that you will always face when you are purchasing goods. Your budget is limited and you will always want to make the best-consuming decision. Then, what should we consider when we are buying goods? Yes, there are numerous things that consumers should consider when they are purchasing a good, but today, … More How Many Would You Buy?
Entrepreneur, Investor, Scientist, anyone under 40 has probably heard of Elon Musk. Elon rise to fame can be contributed to his excellent business making skills and excellent decision. At 48 years of age, he has managed to reach an outstanding net-worth of 20.1 billion. To properly dive into Mr. musk success we have to understand … More How Elon Musk Conquered the 4 factors of production
“Comparative Advantage” or “Absolute Advantage” are both terms we hear in economics. But are they that useful? … More The More the Better?
What would you eat today? I guess this would be the most common question in modern days. Do your family spend more money to go to the restaurant or save money and cook at home? Why can’t everyone always have dinner at a fancy restaurant? The answer would be obvious, it is because of the … More What Would You Eat Today?
All About Economics 