Economics with a 5 year old

in #economics6 years ago

So I told my son I will read you a story and grabbed a basic economics book and started to read the first line. It goes like this:

“Economics is the study of how individuals, institutions, and society choose to deal with the condition of scarcity.”

Son: what is scarcity?
Me: things that are not a lot of, like money
Son: ohh and toys are also scarcity dad.

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So Cool
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Very Amazing

he he he....
Really interesting.
Dear @abajnath thanks for sharing such an interesting post..
I am started my journey today...
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this is cool

Interesting post dear @abajnath
your child is talent..
god bless him.
I have started my journey today..
So, I don't know every thing..
@upvoted

talent full

Hmmm yeah, what a practical explanation of economics. It’s just the decision made on needs and wants

That's right my friend. That we live must be based on need rather than on an inexhaustible desire.

yeap,,so fentastic practical explanation by @abajnath about economy to his son

really very excellent explantation of you @abajnath.because you telling this lesson very perfectly of your son.its very needs for every child. very good.. my dear friend @abajnath

Most welcome

ahah your son is smart ;)
but money are not scarcity :P This is something individual

Great comment

that is why boss @abajnath gave him this example

cool dear @abajnath ...

father and son conversation is very interesting.

kids nowadays are talented

ohh and toys are also scarcity dad
Your son is really genius, even I cant ask such a question to my Dad at this age if he is teaching me economics.
He has got brains. Wish you luck for studying him economics.

I didn't knew anything at the age of 5

Hahaha, same is the case here

i was dim until age 7 I guess

Your son is curious, and curiosity leads to intelligence. Bet he will grow to be an intelligent lad

Already seems like an intelligent one

Yeah, really brilliant boy🎓🎓🎓

having knowledge about economics in such early age is extraordinary...

Agreed. He's a brilliant boy with a great future

unique ability

Your son is very curious. That’s what we adults love about our children.

obviously,people who are more curious
are best learners

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