Scarcity is a fundamental principle in economics that lies at the bedrock of the elegant social science. Scarcity in economics refers to the limitations inherent in our world and universe. We live in a scarce world. There are finite amounts of all…

Economics, at its core, is about answering three elegant but important questions. They lie at the foundation of the subject and must be answered by every nation on Earth. Read the lengthy article to find out what the three questions are and to get…

The most basic question that one can probably ask regarding all things finance, economics, and money is “What is money?” We all know that a US Dollar Bill or a Euro is considered money, but most people have never really given thought to…

Here are the notes I took from a lecture on presentation fundamentals during my first year in grad school. The lecture was given by a professor who has a Ph.D. in English literature as well as an MBA and who is somewhat of…

The Law of Demand can be represented by the following graph – a downward sloping line with Price (P) and Quantity (Q) on the axes.

The Law of Demand states that Ceteris Paribus,…