The study of how to work with given resources.
The study of how housewives work with limited money in a small apartment, hungry husband, naughty kids, limited salt, eggs, oil and rice.
What people want
What is being produced
Demand & Supply
What people want and what is being produced
What people want and what is being produced match, at a certain price.
The total value of goods or services created. It stands for Gross Domestic Product.
Current value or market value
Value adjusted for inflation
Value or price going up
Value or price going down
When your mum gives you $200 a month or $2400 a year, you decide how to spend it.
You spend $2 today. Count the cents and dollars to know what you have spend this month or this year.
Using complex math to explain economics