Demand, supply and equilibrium
ID:CVDSE
Video Overview
This tutorial highlights the fundamental economic problem… which is scarcity. People have unlimited needs and wants… but they have scarce… in other words limited… resources to fulfil these needs and wants. So we have to decide on the optimal allocation of our scarce resources towards meeting our conflicting needs and wants. This decision-making process applies to individuals, businesses and other entities… as well as to economic markets as a whole.
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