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Economics
Supply, demand, inflation, interest and how the economy touches you.
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Economics teaches supply and demand, opportunity cost, inflation and interest rates, and how markets and jobs move together — the base for any business or finance degree.
Kid Tapp™ overview episode
Micro basics
- Demand falls as price rises; supply rises as price rises. They meet at equilibrium.
- Opportunity cost is what you give up to choose something — including four years of salary.
- Marginal thinking: decide by the next unit, not the whole pile.
Macro basics
- GDP is total output. Recession = output shrinking two quarters in a row.
- Inflation means each dollar buys less; 3% inflation halves your money's power in ~24 years.
- Central banks raise interest rates to cool inflation — that also cools hiring.
Economics of your own life
- Compound interest works for you when investing, against you when borrowing.
- Rule of 72: 72 ÷ interest rate ≈ years to double.
- Your degree is an investment: compare its total cost to the salary bump it earns.
⏱️ Timed Challenge
4 questions · 60 seconds · beat your score.
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