Children are economists, it's time to chat about it Economics is the study of choices people make to be happy. Kids do this each day when they decide which shirt to wear, which TV show to watch or what to eat for lunch. In making these choices, they are using the economic principles of scarcity, supply, demand, opportunity costs and diminishing returns. Now is the perfect time to chat with your child about economics and prominent economist Dr. Arthur Laffer shows you how to get started. Written for families of elementary-age children, Let's Chat About Economics identifies and illustrates...