Free Enterprise in Three Minutes Podcast with Ray Keating

Episode #8: What the Heck is Scarcity?

April 06, 2018 Season 1 Episode 8
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #8: What the Heck is Scarcity?
Chapters
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #8: What the Heck is Scarcity?
Apr 06, 2018 Season 1 Episode 8
Ray Keating
Since economics is the study of human behavior given the realities of scarcity, an obvious question is: what is scarcity?
Show Notes
Ray Keating explains what “scarcity” means in the world of economics; sums up why it matters; and notes that it should not be confused with other terms, like “poverty” or “shortages.”
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