Answers That Count - Hosted By Charles Musgrove

Economic Key Element #2 – There are No Free Lunches In our continuing series of interviews with Professor Joseph Calhoun, Economics Professor at Florida State University, we talk about another key element of the Twelve Key Elements of Economics from the Third Edition of “Common Sense Economics, What Everyone Should Know About Wealth and Prosperity.” As the co-author of this book, public speaker and professor at a major university, Professor Joe provides a great perspective of how basic economic theories apply to current economic conditions.

In this interview we discuss key element #2, There is no such thing as a free lunch: Goods are scares and therefore we have to make choices. There are a couple of concepts we discuss in this episode that all relate to this key element, opportunity costs and prioritization of choices. Tune in and check out https://answersthatcount.com/ for articles and other episodes.