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Introducing Economics: Basic Concepts

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Uploaded by on Nov 20, 2011

This is the second video in the Economics Animated series. This one focuses on key economic concepts.It covers:
Economics defined
Goods and Bads
Resources
Key Economic Concepts:
--Scarcity implies tradeoffs and opportunity costs: TANSTAAFL
--People tend to choose rationally, responding to incentives and making decisions at the margin.
--Markets and Trade tend to work well and make people better off.
Microeconomics vs. Macroeconomics
Economic models
ceteris paribus

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Education

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Standard YouTube License

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  • nice man, keep them up

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