Economics with a 5 year old

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·@abajnath·
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Economics with a 5 year old
So I told my son I will read you a story and grabbed a basic economics book and started to read the first line. It goes like this: 

“Economics is the study of how individuals, institutions, and society choose to deal with the condition of scarcity.”

Son: what is scarcity?
Me: things that are not a lot of, like money
Son: ohh and toys are also scarcity dad.
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