Why YOU should learn economics!

Jacob Clifford introduces economics, emphasizing its value in decision-making and understanding scarcity. He explains microeconomics with a flight cost example and discusses macroeconomics, focusing on tariffs and unseen costs. The video aims to broaden understanding of markets and improve decision-making skills.

Explain the example given about choosing flights and how it relates to opportunity costs.

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What are the unseen costs associated with tariffs on foreign-made mobile phones?

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