*Timestamps:* 0:01 - Introduction: The importance of understanding basic economics 1:25 - What is an economy? Scarcity and the use of resources 6:19 - The principle of investment: Sacrificing today for a better tomorrow 10:54 - How investments are financed: The role of financial institutions 14:54 - Understanding risk: The role of insurance companies in mitigating risk 18:47 - Conclusion: The accessibility of economics and its real-world applications
![[TH] FS vs BME - VCT Ascension Pacific - Lower Bracket Final](http://i.ytimg.com/vi/wnygqsR2Fig/mqdefault.jpg)
*Timestamps:*
0:01 - Introduction: The importance of understanding basic economics
1:25 - What is an economy? Scarcity and the use of resources
6:19 - The principle of investment: Sacrificing today for a better tomorrow
10:54 - How investments are financed: The role of financial institutions
14:54 - Understanding risk: The role of insurance companies in mitigating risk
18:47 - Conclusion: The accessibility of economics and its real-world applications