Fixed costs, variable costs, marginal costs, Malthusian trap
Comparative advantage, absolute advantage, and trade.
What is wealth? Rent control, taxes, subsidies, theft, forced sharing.
The illegal trade in drugs, prostitution, kidneys, and hearts.
Minimum wage and rent control.
Price elasticity of demand, price elasticity of supply.
Supply and demand in action.
Supply, demand, equilibrium price, Adam Smith’s invisible hand.
Trade-offs are everywhere!