Economics for the confused
Economics for High School students
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Showing posts with label
Scarcity
.
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Showing posts with label
Scarcity
.
Show all posts
Wednesday, June 3, 2009
Revealed: the bid to corner world's bluefin tuna market
Read
this link
. It is a tragic story that illustrates some basic ideas in economics:
Limited resources
Unlimited wants
How limited supply increases equilibrium price
Business not being interested in the social costs of its actions
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