There are 10 principles of Economics. Seven of them demonstrates Micro economics, and other three, Macro economics. That video is really risible... There is a man whos making fun of the economics. People face tradeoffs, and it says, choices are bad, yeah i agree with this, before you make a choice, you should conceive. If you dont think this may lead the whole economy collapsing.
That man is making fun of economics, but the affairs that he's tattling about are all true.!
The cost of something is what you give up to get it. It's an oportunity cost. This also involves choices. Entire Economics is covered with choices and needs. Scarcity is the main weigh in Economics.
This is video also states that people are stupid. That video totally took my correspondence, because i think people are stupid.( NOT ALL) IF people were not stupid, this Crisis wouldnt accur. As well as the recession wouldn't occur in UK.
The video also states, that Trade can make everyone better off, but it's not true, trade CAN MAKE, IT WILL NOT MAKE, IT CAN! For some people trade is benefical, for some not. For example if a country makes a massive trade, it's benefical for them but it isnt! for the People in that country. Because there will be less supply of those cars, and their price will mount.
WAIT FOR FURTHER POSTS!!
Don't you think the crisis would have occured sooner if people weren't stupid?
ReplyDeleteFor example: There are only 200-300 fysical USD for each american.. Would we trust our money to banks (who stil have a giant amount of toxic assets on their balance sheets) if we weren't stupid? Isn't it stupid people invest in gold and have 'gold positions' whithout actually owning the gold fysically??
What if weren's stupid? I think everything would collapse...
Hi,
DeleteYes it is fact it is really collapsing of everything about economics, trade and business, It is quite confusing
10 Principles of Economics
Whether human beings are stupid or not stupid, this economic crisis is inevitable. Trade can make everyone better off, and can make everyone poor.
ReplyDeleteDon't you think the crisis would have occurred sooner if people weren't stupid?---> Is this an English mistake? If what you mean is opposite of this sentence, this is my answer: People are stupid(Not all) But most of them!, they just care about money they earn, they don't concern about others. For example, USA over-Borrowed loans of money. And those people now can't pay. Isn't it stupid?
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