Introduction: Why Economics is All About Choices

Ever feel like you can’t have everything you want? That feeling is the starting point for all of economics. At its heart, economics isn’t about complex charts; it’s the simple study of choices. In fact, a powerful synonym for economics is just that—choices.

Think about a choice you’ve made recently. Did you buy a coffee instead of saving the money? Did you spend an hour studying for one subject instead of another? Every day, we make countless decisions that involve trade-offs. This document will explain the single most important problem in economics that forces us to make these choices: the concept of scarcity.

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