- Jun 2019
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mises-media.s3.amazonaws.com mises-media.s3.amazonaws.com
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inequality of exchange
goods may be of equal value in the market place but are not equal in the minds of the traders.
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Bible
the Christian scriptures, consisting of the Old and New Testaments.
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money
a medium of exchange
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scarce
not abundant.
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conditions
the state of something with regards to its quality or appearance.
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the doctrine of sunk costs
when you choose to evaluate the value of an item based on what they can do for you in the future no matter how much value they cost originally.
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subjective.
based on or influenced by personal feelings, tastes, or opinions.
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sophisticated
having a great deal of experience or knowledge on given subjects.
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valuable
extremely useful or important.
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malnutrition
the state of not having enough nutrition due to lack of food to eat.
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priorities
condition of being regarded or treated as more important.
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division of labor
assigning different tasks to people to improve efficiency.
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Robinson Crusoe.
A book made by Daniel Dafoe.
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alternatives
one of two or more available possibilities.
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principles
a fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.
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economists
An economist is a practitioner in the social science discipline of economics.
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illiterate
unable to read or write.
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specialis
a person who concentrates primarily on a particular subject.
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study
the act of learning
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defied
to resist.
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inf lationary economy
Increase in price of goods and services.
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