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An important concept about economics is that of marginal cost and marginal benefit. A profit maximizing firm will continue to produce until MB=MC. The firm gets the most benefit by using that method. Marginal benefit is the benefit that results from one more additional unit of output and marginal cost is the cost that results from one more unit of output. When marginal benefit exceeds marginal cost, there is still more benefit to be gotten and so the firm will continue to produce until they have gotten the most benefit they can. I apologize if I have been redundant.
Contributed by Keri Potter
Economics is not strictly about money and what you can buy with it. It is the engaging science that analyzes the demand for a product by and individual or market, the ability of a firm to supply that product without making a loss, the opportunity cost (what you could have done with time or money) for buying a product or good, and finding the best outcome.
Contributed by Justin Bloomer