Quick Economics - Intro
The easiest way to get rich is to overcharge customers or underpay staff.
Welcome to economics. Not only useful for following the news but handy for personal affairs. You might think me, talk about economics? Impossible. I don’t know anything about this subject. But not so. You’re very much part of the economy as both producer and consumer. Producers aren't just found in manufacturing plants. Doctors and nurses are producers too. So regardless of your occupation, you contribute to the economy like everybody else. And it goes without saying that people are consumers, even when unemployed.
It’s good you’ve already read politics because the economy doesn’t operate in a vacuum. It often has a political bent and international objectives. This subject isn’t just about efficiency and the maximization of outputs, it includes distribution of income. So let's get to it.
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This section wishes only to give you an appreciation for the subject. You’ll realize it’s about more than just supply and demand. But economics is also not an exact science, it’s a social one. Social because it involves people, inexact because our situation is evolving.