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 scar More

For the first time in 99 years, a solar eclipse was visible from coast to coast across the United States. Click to read our analysis of the Economic Impact of the Eclipse. More

Imagine you are a doctor and you are paid one-tenth what you could be paid in another country that offers better facilities. This is happening today in Nigeria. Read to learn how it is affecting Nigeria's residents and Health Care System. More

For me, water does not seem to be a scarce resource, but for most of the world it is. This blog post will show you just how valuable and scarce clean water is. Click to Learn more! More