Pennies on the Ground

Economic Study

The definition of economics is making tradeoffs in a world of constraints.  Examples of constraints include money, time, land, etc.  The scarcer something is, the more valuable it is.

Interesting example of a tradeoff:  “Bend down and touch the ground, and I’ll give you a penny for doing this.”  

Not everyone will say yes to this proposed transaction, and that’s exactly why we find more pennies on the ground than any other unit of currency.

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