Understanding basic economics is one of the essential pillars in spreading a consistent message of liberty and battling the misinformation peddled by the mainstream media and politicians. A-equals-A.com has updated the Fundamental Economic Concepts page. There is a lot of information here. Feel free to browse the page or download a listing of the concepts in its entirety from the Archives. Over the next two weeks or so we are going to be featuring a new concept each day here on the blog. This pace may be easier for some to digest. Either way, the information is out there. Enjoy!
Fundamental Economic Concepts include:
- Scarcity and Subjective Individual Value
- Production, Time Preference, and the Cost of Foregone Alternatives
- Incentives and Margin - Two Keys to Understanding Human Decision Making
- Consumer Goods, Capital Goods, and Savings
- Property *Newly Added
- The Market *Newly Added
- Division of Labor and the Benefits of Exchange - Specialization and Knowledge Sharing *Newly Added
- Prices *Newly Added
- Money *Updated
- Capital and the Structure of Production * Updated
- Recessions and Depressions: What Causes the Business Cycle of Booms and Busts?
QUESTION: Are there any other fundamental economic concepts you think we should cover?
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