Introduction ●      A resource is something we rely on or use to accomplish a goal. If…

Introduction Definitions and Basics ●      Interdependence and the division of labor: I, Pencil, by Leonard Read. ●      Simple? Yet, not…

Introduction Definitions and Basics ●      Human Capital, from the Concise Encyclopedia of Economics ●      To most people capital means…

Introduction Definitions and Basics ●      Saving, from the Concise Encyclopedia of Economics ●      Saving means different things to different…

As a social science, economics attempts to use the principles and methods of science to…

Introduction Definitions and Basics ●      Stock Market, from the Concise Encyclopedia of Economics ●      The price of a share…

Introduction Definitions and Basics ●      Foreign Exchange, from the Concise Encyclopedia of Economics ●      The foreign exchange market is…

Introduction Definitions and Basics ●      Money, at About.com ●      Money is a good that acts as a medium…

Introduction Definitions and Basics ●      Balance of Payments, from the Concise Encyclopedia of Economics ●      The balance of payments…

Introduction ●      A barrier to trade is a government-imposed restraint on the flow of international goods…