How do we grow our money? We all know that unfortunately, we can’t grow our money on trees. But there’s a way to have more… Read More »If money doesn’t grow on trees, how and where does it grow?
By definition, money is anything that is accepted as a medium of exchange. When we use the term “medium of exchange,” we mean we can… Read More »What makes money, money?
Our economies are complex, but by making some simple assumptions, we can focus on what is most relevant in explaining something. For this reason, economists… Read More »What role do models and graphs play in economics?
The answer to this complex question is simpler than you might think. Do you think a business can charge whatever price it wants, to get… Read More »How price of anything is set?
If I asked, “What’s the interest on your savings account?” many of you will tell me the interest rate that the bank is stating. However,… Read More »What are our real earnings when we deposit money in our savings accounts?
You might have heard in the news might have heard that the US economy has contracted in the first quarter of 2022. When we talk… Read More »GDP in the US decreased in the first three months of 2022
Both gasoline and diesel prices are still up. Drivers across the US and globally are feeling pain when they visit gas stations to pump gas.… Read More »Gas prices are too high, but why?
We know economics is all about putting resources to their best use, so we get the most out of it. Economists use a fancy term… Read More »What are the different types of economies in the world and where does the US rank in terms of economic freedom?
Has it ever happened to you while listening to the news that there is some big scary vague thing called the economy that’s just out… Read More »We hear this word so much in news, but what exactly is an economy?
The most talked-about topic affecting everyone for now almost a year is inflation. Your money loses its purchasing power, you need more money to buy… Read More »What is causing the prices to rise the world over? Understanding inflation and its causes
