A basic econ lesson. (Lesson #1)

Day 2,837, 10:17 • Published in USA USA • by Bill Bergey

Hiya guys! I thought I'd tell you guys a little about irl economy and maybe that would help you folks with the game economy! (tbh, I'm bored out of my mind and feel like teaching) So here we go!



First, What is economics? Some may say "The study of the Economy" but there's more it than that. First you must understand what makes the economy. What makes the economy is unlimited wants. Everyone wants. They want gold, They want Q7 crap, they want it all. But there is limited resources which means I have to make a choice. The unlimited wants and limited resources create the basis of an economy, scarcity. Economics is the study of how we deal with scarcity.

I get asked this a lot so I thought I'd answer it now. What's the difference between an economist and an accountant? An accountant would look at the flat cost you're paying to do something while an economist would look at things given up. For example, If you decided to go the movies you'd be giving up the chance to watch the eUSA's IRC to see if anyone will talk to you. 😉

All decisions are rational!!! Remember that. Everyone acts for their own self-interest so what may not be rational to you is completely rational to the person doing it!

That's it for now! Consider this lesson #1 and I'll probably make more in the future that tie everything together into Erep and how irl economies work! Since you spend time playing might as well learn and play! If I get lazy this is probably the only thing I'll post. 😛

-Carthan


tl;dr I was bored out of my mind. So much so that I wrote about the economy. It's a bunch of big long words.... Get back up there and read it. Learn something for once!

Edit (day 2,83😎: Lesson #2 is in the works! I'm feeling sick and tired today so I'll it'll be out tomorrow or later tonight!