Welcome to another episode of my podcast. This episode discusses how rational decision making entails comparing the marginal benefits and marginal costs of an action.

Welcome to another episode of my podcast. In this episode we’ll discuss opportunity cost as the next best alternative given up in confronting while making choices.

Welcome to another episode of my podcast. In this episode we’ll discuss the productive resources, in other words the factors of production.

Welcome to another episode of my podcast. In this episode we’ll discuss why limited productive resources and unlimited wants result in scarcity.

Welcome to another episode of my podcast. In this episode we discuss, what is Economics a study about.

Welcome to another episode of my podcast. The Consumer Price Index (CPI) is a measure of the cost of living. The Inflation Rate is the percentage rate of change in CPI.

Welcome to another episode of my podcast. If GDP rise from one year to another, it may be either: 1) the economy is producing more goods and services or 2) goods and services are selling at higher prices. Economist really want to measure the total volume of output of goods and services produced, and not […]

Unemployment and Inflation are macroeconomic problems that summarises the state of the economy. This podcast discusses how the government measures unemployment rate, the cost associated with unemployment, together with the various types and causes of unemployment.

Inflation is an increase in the general level of prices in the economy; a decline in the level of prices is deflation. The primary measure of inflation is the Consumer Price Index. It compares the prices of a ” market basket” of consumer goods in a particular year to the prices for that market basket […]

Measuring the difference between the changes in output and changes in the price level involves making an important distinction between Nominal GDP and Real GDP.