Economics Made Economical

Category Archives: Efficiency

Do You Know What Econ Is?

Economics is the study of how best to allocate scarce resources in the most efficient manner, i.e. to produce the greatest level of possible benefit to society/humanity at the lowest possible cost. Advertisements

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Remembering American Independence: An Economic Guide

Happy Independence Day To All Americans! Happy 4th of July, America. Remember what the holiday means as you celebrate it today. And be inspired to make a difference. Let’s remember what this day originally stood for–Not what we have become Freedom alongside an apathy and ignorance of the world around us will only lead our country back to chaos, …

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Sudan: Why Do Economic Sanctions Work?

The USA and other nations around the world essentially donate horrible regimes billions of dollars every year in the form of oil money. Some of the world’s most corrupt governments have been longtime members of OPEC, an illicit cartel that limits oil supply levels and agrees for all its member states to sell the produced oil …

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Even More Benefits of the Fair Tax

The National Fair Tax has many benefits over the American government’s current tax system. I have previously discussed just some of the most basic of these. I have also tried to dispel some common misconceptions about what the Fair Tax is not. Some questions, however, remain: 1. How can the Fair Tax include raise the …

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The Monopoly’s Effect on Society

The graph to the left shows a perfectly competitive market with an equilibrium point at a price of $200 per item and a total quantity of 3100 items being produced and sold. Because the industry is perfectly competitive, long-term net profits made by the producers are zero. For this reason, the Supply Curve is also …

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