Discover four key economic concepts: scarcity, supply and demand, costs and benefits, and incentives. Learn how they affect consumer choices and financial decisions.

The costs of the COVID-19 crisis come in two primary forms. The first is the direct impact in terms of health and lives lost. The second is the indirect impact that comes from efforts by individuals, ...

Former H.U.D. Secretary and American Cornerstone Institute founder Dr. Ben Carson discussed the Biden administration’s handling of record-high inflation, arguing "it’s very clear" that the president’s ...

With the economy going into a shutdown mode for at least month, and possibly quite a bit longer, we’re again hearing the cries from elite economics columnists about a Second Great Depression. These ...

In a guest editorial on PennLive earlier this month, Vinnie Trometter shows a lack of basic economic understanding arguing against the federal repeal of an overreaching California law that hurts ...

It would be hard to find a discipline stalked by more fallacy than economics. Many large libraries could be filled with thick books laying out the myriad ways in which the truth about human action is ...

A surprising eight out of 10 12th graders understand basic economics concepts, according to a national study released on Wednesday. “Given the number of students who finish high school with limited ...

The simplest way to understand economics is that it is a reckoning with unavoidable tradeoffs. If you spend money on something, you may obtain something in return—but you lose the ability to use those ...