by Gabriel Braga | May 1, 2023 | Economics
What is the market? The market is a fundamental piece for the functioning of the economy, playing an important role in the allocation of scarce resources in society. We often see the term ‘market’ being used by economists, journalists, politicians, and various other...
by Gabriel Braga | Apr 13, 2023 | Economics
The Marginal Revolution and the Paradox of Value The Marginal Utility refers to how much satisfaction we get from consuming an additional unit. Do not confuse this with total utility. An example: if we are thirsty and drink 3 glasses of water, the total utility is the...
by Gabriel Braga | Jan 7, 2023 | Economics
What is money? People are in constant search to satisfy their needs. However, it is very difficult nowadays for us to be able to satisfy our needs alone. It is impossible for a single person to produce everything he needs to have a minimally modern life: it is not...
