Wednesday 7 September 2011

What is economy all about...




Although seemingly, this video has nothing to do with the economy, it actually explains the essecnce of this scientific discipline. At first bushman had nothing, apart from the natural goods (trees, roots, animals and water). However, when a single  coca cola bottle appeared suddenly problems occured. Those problems come from the fact, that there is not enough goods for everyone - a lack of supply. Here is when the most basic concept of the economy appears "the scarcity". It means: unlimited wants and needs but limited recourcess. Everyone needs a bottle, but there is only one. That is exactly the problem that the economy examins.

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