Video – Crises of Capitalism

[youtube=http://www.youtube.com/watch?v=qOP2V_np2c0]

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Economic Fallacies

Jul 25, 11 Economic Fallacies

Posted by in Fallacies, Fundamentals of Economics

The Fallacy of Composition  What is true for an individual in not necessarily true for the economy as a whole  What is good/bad for an individual is not automatically good/bad for society as a whole. Example: Higher food prices are a problem for all Canadians.   The Post Hoc Fallacy  Derived from Latin phrase post hoc...

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Definitions

Jul 25, 11 Definitions

Posted by in Fundamentals of Economics, Introduction

Economics is a  social science seeking to analyze and describe the production, distribution, and consumption of goods and services. It is the study of the choices people make to cope with scarcity. Micro vs. Macro Economics  Microeconomics examines the economic behaviour of individual units such as businesses and households in...

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