The economy, in its large sense of the word, is quite complex to fully comprehend. Investopedia.com defines Economics as "a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources".
I found this animated video voiced over by Ray Dalio which does a great job giving you an overview of the mechanics of the economy. Despite being produced in 2013, the information is definitely relevant in today's covid-19 economy.
Ray Dalio, is an American billionaire hedge fund manager and philanthropist who has served as co-chief investment officer of Bridgewater Associates since 1985. He founded Bridgewater in 1975 in New York. Within ten years, it was infused with a US$5 million investment from the World Bank's retirement fund. Dalio was born in New York City, and attended C.W. Post College of Long Island University before receiving an M.B.A. from Harvard Business School in 1973. Two years later, in his apartment, Dalio launched Bridgewater. In 2013, it was listed as the largest hedge fund in the world. In 2020 Bloomberg ranked him the world's 79th-wealthiest person (taken from Wikipedia).
This educational video is not only informative, but entertaining. This type of medium should be used in schools. Do not take my word for it, take a look. You will definitely not be disappointed. Enjoy !!!!
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