Lesson 1.1 - Online Econ by Cody Laurich https://padlet.com/1018013/t0qkvibw2sb38q37 en-us 2023-08-28 22:07:56 UTC 2023-08-28 22:22:36 UTC hello@padlet.com Money is not a resource. It merely functions as a medium to obtain the resources. It has no utility unlike the resources you get with that money. 1018013 https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675715224 2023-08-28 22:09:02 UTC https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675715224 Economic capital is financial resources a business and/or individual needs to manage risks, withstand adverse events and grow effectively and properly. It encompasses the funds required for growth and to cover unexpected losses. It also helps maintaining financial stability. 1018013 https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675719273 2023-08-28 22:16:17 UTC https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675719273 We can use our resources to make other things that we are scarce on. We need to optimize the way we use our resources and be more innovative while using them. This way we can satisfy the needs and wants of Individuals and Society 1018013 https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675722560 2023-08-28 22:22:26 UTC https://padlet.com/1018013/t0qkvibw2sb38q37/wish/2675722560