How Economics Affects Your Daily Life

Miacademy & MiaPrep Learning Channel

This introductory video demystifies the concept of economics, moving beyond stereotypes of complex math and stock markets to define it as the study of choices, resources, and societal impact. The host explains that economics is fundamentally about how individuals, families, and communities manage limited resources to meet their needs and wants. Through relatable examples like a family budget and a town council's tax decisions, students learn that every economic choice involves trade-offs and consequences.