How to Talk Like an Economist: Producers, Consumers, and Goods

Miacademy & MiaPrep Learning Channel

This engaging video introduces students to the foundational vocabulary and concepts of economics, demystifying complex terms by connecting them to everyday life. The host begins by attempting to decipher a dense quote by Adam Smith before pivoting to a more accessible approach: learning to "talk like an economist." The video systematically breaks down three core pillars of economic understanding: the three basic economic questions that drive production, the roles of producers and consumers, and the distinction between goods and services.