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Economics - The Basic Assumptions

By August 13, 2009

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I would like to thank everyone again who has asked for assistance with 'introduction to economics' type questions.  I am having a lot of fun answering them.

Next in the series of introductory economics: 'what do economists do?' - Economics - The Basic Assumptions

Comments

August 14, 2009 at 5:15 am
(1) David Chester (Macrocompassion) says:

The basic definition of economics rests on two axioms:

we are both greedy and lazy.

This might be more formally expressed by Man having the ability to satisfy his desires with the minimum of labour and that these desires are never-ending.

However the principle is the same and as a consequence, since we should not live by the law of the jungle, there must be some rules regarding territorial use and right to all natural resources, because without these rules a few people will take more than they need and stop the rest from having an equal opportunity for use.

August 17, 2009 at 10:29 am
(2) 24 hour online currency trading says:

An Economist is a scientist devoted to increase wealth and reduce poverty!

What do you think?

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