Higher Rock Education - Economics Blog

Are There Any Unlimited Resources?

Tuesday, August 29, 2017

Economics is the study of how every business, person, and government allocates their limited resources. A resource must be useful to be classified as a resource. Chances are new economic students have covered the economic principle of scarcity in their first lesson. If a resource is not scarce, it means it is readily available at no charge. Can you identify the only resource that is not scarce? Listed below are several of the suggestions made by my students and the only resource that is not scarce. More

Cost – Benefit Analysis: A Useful Tool to Reach a Decison

Tuesday, May 16, 2017

What is a Cost Benefit Analysis? It's a method where the costs are subtracted from the benefits allowing a person to reach the best solution. Click to Read More! More

Five Everyday Economic Illustrations That Do Not Involve Money Part 2

Wednesday, February 22, 2017

Last week this nerdy economist wrote a blog providing examples of the relevancy of economics in everyday life that I used in the classroom. Here are five more…. More

What is Your Opportunity Cost?

Wednesday, April 15, 2015

Opportunity Cost is an economic concept that recognizes that every decision we make has a cost associated with it. When I purchase a car for $20,000 the cost really greater than $20,000 because More


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