ECON 101: ECON 101

Explore the concept of trade-offs in daily life, from balancing work and leisure to managing savings and expenses. Unravel the intricacies of prioritizing professional ambitions against personal ties. Learn how recognizing these trade-offs can guide more informed life decisions.

This video delves into the advantages of international trade, using the example of France's specialization in wine production, and explores different options while highlighting the concept of comparative advantage without revealing the ultimate answer.

Explore the historical barter system and its challenges, particularly the double-coincidence of wants. Witness how the need for simpler transactions led societies from direct barter to embracing mediums of exchange like money.

In this video, we explore the theory of liquidity preference, which focuses on how an economy's interest rate adjusts to balance supply and demand for money. We evaluate a multiple-choice question and discuss each option's alignment with various economic theories without revealing the correct answer.

Unravel the complexities of long-run economic growth and its driving factors. Discover why rising productivity stands out as the cornerstone of sustainable economic expansion. Understand the role of various elements in shaping a nation's economic trajectory.

Unexpected inflation can shift wealth between lenders and borrowers. This phenomenon affects the real value of money repaid, disadvantaging the creditors. Additionally, businesses face operational expenses like menu costs during inflation adjustments.