Supply and demand are powerful forces that ESG experts must master.
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Supply and demand are powerful forces that ESG experts must master.
Opportunity Cost vs. Choice
5 Lessons
In this lecture, you will learn to: Describe the concept of opportunity costs using the examples of guns and butter
An introduction to opportunity cost
Businesses make many spending choices every day. When corporations make profits, they can choose to share some of those profits with their workers as higher wages or the corporation can invest in capital and machinery. Every dollar spent as a worker's wage increase is one dollar less that can be invested in machinery or distributed to shareholders.
Businesses make many spending choices every day. When corporations make profits, they can choose to share some of those profits with their workers as higher wages or the corporation can invest in capital and machinery. Every dollar spent as a worker's wage increase is one dollar less that can be invested in machinery or distributed to shareholders.
Governments have to decide how to spend taxpayers' money. Economists call this a choice between guns and butter. Guns represent the expenditures that governments make on military, and butter represents all the non-military expenditures, like investments in the environment, healthcare, roads and education.
Demand Curve Analysis
1 Lesson
How the demand curve works
Supply Curve Analysis
1 Lesson
How the supply curve works
Market Equilibrium - Where Supply and Demand Meet
1 Lesson
How market equilibrium works
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