Card 15 / 25: What does it mean to say Crusoe creates goods with his "mind powers"?
Answer:
Obviously we do not mean that Crusoe has magical powers to conjure up coconuts through thought. What we meant by this section title is that coconuts (or vines, sticks, etc.) are not goods merely because of their intrinsic properties. In order to become economic goods, someone (Crusoe in this case) has to use his mind to classify them as scarce objects that can help him achieve his objectives.
Previous Card | ← Previous Card Button |
Next Card | → Next Card Button |
Flip Card | Space-Bar |
|