Posts Tagged ‘human action’


If you are new to the subject, this article will be for you. You will find no complicated formulas or theories here, just a few basic concepts. There will be some in depth explanations and examples through the embedded links for those who want to pursue the concepts further.

What is Economics?

Contrary to popular belief, you need no understanding of math to understand economics; logic and reason on the other hand can be of vital importance.

Economics is about choices. It is looking at the choices of what you or someone else does with your time and money. It also involves who is best to make these choices. It is about how people act and interact, which leads to how wealth is created and maintained. It is about incentives.