Chapter 1: Ten Principles of Economics
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Chapter 1: Ten Principles of Economics
What is economics? 0:38 People face tradeoffs 10:45 The cost of something is what you give up to get it 14:16 - Opportunity cost 15:43 People respond to incentives 21:48 - Types of incentives 22:53 People think at the margin 35:28 Trade can make everyone better off 43:22 Markets are usually the best way to organize economic activity 46:33 ...
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