This podcast aims to explain why "there is no such thing as a free lunch" through the concept of opportunity cost.

In this podcast we will define utility and explain some key ideas of utility, mainly total utility, marginal utility and the Law of Diminishing Marginal Utility.

This is the first podcast covering the IB Economics syllabus. In this episode, I will cover the following topics:

1) What is economics?

2) The difference between micro and macroeconomics

3) Positive and Normative Economic concepts