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Lectures to Simplify Economics

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Lectures to Simplify Economics

30.11.2022

Lectures to Simplify Economics And Economic Analyses: What is Mercantilism?

Mercantilism is a movement of thought that is maintained between the Middle Age and Physiocracy between 1450–1750s. As this thought of movement was interpreted differently by thinkers, it was implemented differently in each country, and it is another article’s topic. So, first, I will explain the ev

Lectures to Simplify Economics

30.11.2022

Lectures to Simplify Economics And Economic Analyses: Value, Value in Use, Value in Exchange and The Paradox of Value

Value means the utility of a commodity. However, according to Adam Smith, the word value is used in two senses, These are explained below.Value in Use:It is the satisfaction which an individual obtains from the use of a commodity. For example, water has a huge value in use, because it quenches the t

Lectures to Simplify Economics

30.11.2022

Lectures to Simplify Economics And Economic Analyses: What is an ‘Opportunity Cost’?

Needs of human being are infinite. But, goods and services produced in order for satisfying infinite human needs are always scarce. In other saying, there is an imbalance between the quantity of goods and services produced with the intent of satisfying infinite human needs and finite natural resourc

Lectures to Simplify Economics

30.11.2022

Lectures to Simplify Economics And Economic Analyses: What is Cryptocurrency?

Crypto means ‘a person who adheres or belongs secretly to a party, sect or another group’; currency means something (such as coins, treasury notes, and banknotes) in circulation as a medium of exchange. The word cryptocurrency created by combining these two words, means encrypted currency. Cryptocur

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