Tag: wants

Economics is not the study of money… it is the study of choice

I was having a discussion (I say discussion and not argument because to me argument has to much of a negative connotation like you are not open to the other person’s view) on whether wants are infinite.

The 7 Principles of Economics that make common sense uncommon

Nevertheless, we must continue to aspire for a better understanding of these principles because they are extensions from the first theory; since resources are scarce but wants are unlimited you need to optimise, make choices and express your free will.