Welcome to the YoungEconomist blog. Our blog features up-to-date real life examples of economic concept that happen around us is our daily life. We cover many different principles of economic, from basic idea like scarcity to understanding the importance of opportunity cost. Our group of bloggers have tried their best to provide you with accurate and relevant information as well simple and interesting examples to help help you better understand the many different economic concepts that lies around you.
The global economy is melting down. Catastrophic disruptions like the one coronavirus containment measures are visiting on industries, business and workers are already producing tremendous pain. It will likely get worse, along with the already devastating human toll. Problems like the one we are experiencing now also create unprecedented opportunities to remedy distortions in the eco-economic system –…
When we are talking about goods in terms of economics, we are talking about all the products or materials that satisfy humans’ wants or needs and provides utility-the level of satisfaction and benefit that consumers gain from purchasing that good. There are 4 different types of goods and each of them have similar as well…
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