The Two Big Economics Lies You Still Believe | Economics Explained

This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ In this video we show the economic misunderstandings around economies of scale & induced demand that still pervade in economics journalism and reporting. Learn how misconceptions about these basic economic concepts can impact city planning, business growth, and national policies. ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ The Economic Explained team uses Statista for conducting our research. Check out their YouTube channel: Enjoyed the video? Comment below! 💬 ⭑ Enjoyed? Hit the like button! 👍 Check out our second channel Economics Explained Essentials → @economicsexplainedessentia551 ✉️ Business Enquiries → hello@ 🎧 Listen to EE on Spotify! 👉 Also on Apple Podcasts or anywhere else you listen! Follow EE on social media: Twitter 🐦 → Facebook → Instagram → TikTok → @economicsexplained #EconomicsExplained #EconomicsMyths #BasicEconomics ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏 Support EE by becoming a Patron today! 👉 The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas, BlobyTwo