Msturlese
Stalker
- Joined
- Mar 7, 2021
- Posts
- 2,154
- Location
- italy
- Society
- Dirty Dingos
- Avatar Name
- Marco Killy Stur
Devinition of an "economic Good"
An economic good is a good or service that has a benefit (utility) to society.
Also, economic goods have a degree of scarcity and therefore an opportunity cost.
Important point is the SCARCITY
see on wikipedia Marginal utility to understand the BAD point of having too many resources
So the TIME that is scarce is the real equalizer
An economic good is a good or service that has a benefit (utility) to society.
Also, economic goods have a degree of scarcity and therefore an opportunity cost.
Important point is the SCARCITY
see on wikipedia Marginal utility to understand the BAD point of having too many resources
Marginal utility - Wikipedia
en.wikipedia.org
So the TIME that is scarce is the real equalizer