Type:

Video

Description:

Prof. Mario Villarreal-Diaz explains the scarcity inherent in the world, and how this necessarily implies a world of tradeoffs. In such a world, the pursuit of a choice requires forgoing all other potential choices. 

Subjects:

  • Social Studies > Economics

Education Levels:

  • Grade 11
  • Grade 12
  • Higher Education

Keywords:

economics, opportunity cost, basic economics, trade off, scarcity

Language:

English

Access Privileges:

Public - Available to anyone

License Deed:

Creative Commons Attribution 3.0
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