Episode Synopsis "1. Choice, Utility, and Demand"

Economics begins with the concepts of scarcity and choice. If there was no scarcity it would all be free. Resources like time and materials need to be allocated to economically feasible uses. This will depend on the consumers' demand for the final product. Lecture 1 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

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More episodes of the podcast Austrian Economics: An Introductory Course

• 1. Choice, Utility, and Demand
• 2. Supply and Demand
• 3. Advertising
• 4. Price Controls
• 5. The Profit Motive
• 6. Costs of the Firm
• 7. Pricing of the Factors of Production
• 8. Labor and Unions
• 9. Labor
• 10. Capital, Interest, and Profit
• 11. Interest and Capitalization
• 12. Conservation and Property Rights
• 13. Monopoly and Competition
• 14. Money and Prices
• 15. Money and the Balance of Payments
• 16. Banking and the Business Cycle