The Basics of Business Economics

Here is a quickie, pedestrian overview of everyone's favorite concepts in economics--supply and demand, the law of diminishing returns, opportunity cost, and the infamous four tools of production: land, labor, capital and entrepreneurship. The video's perky narrator begins by reminding viewers that every choice we make is economic, and every choice is to the exclusion of every other choice. This video meets its goal of introducing the basic precepts of economics to a high school/community college audience. The script is succinct, if a little cute, and there are plenty of graphics for visual learners. Complex ideas and formulas are boiled down to manageable scale, and the length of the video works well for the shorter attention span. A serviceable, affordable teaching aid. Aud: H, C, P. (A. Laker)