Economics 101 in the Kingdom
Everyone eventually learns some “economics.” Maybe you took a class in high school called “Economics 101” or “Home Ec.” You learned practical lessons about budgeting and credit cards and interest rates and mortgages. Such classes introduce students to concepts such as “supply-and-demand” and the basics of investing. Even if you never took a formal class called “economics” you live “economics” every day. All of you who must purchase household items and put gas in a car know all about “inflation” and what that does. “Economics” is all around us. One political adviser a few years ago became famous for summing up what every election is really about: “It’s the economy!”
