Episode 16: Profits and Competition

03/05/11 • 38 min

A discussion of the importance of the profit motive and freedom of competition in the efficient operation of a market economy. Includes an overview of the uniformity of profit principle, and an examination of how competition serves as both an opportunity and a disciplining agent for entrepreneurs and firms, thus promoting useful innovations while weeding out bad ideas.

Previous Episode

Episode 15: Chemical Bonding

An overview of how atoms bond together to form different chemical substances, including a discussion of the tree main types of bonds (covalent, ionic, and metallic), and the relationship of these bonding types to the concept of electronegativity. I also discuss the difference between polar and non-polar bonds, and conclude with some interesting applications of bonding theory to understanding the properties of materials.

Next Episode

Episode 17: Energy, Work and Momentum

An overview of the basic concepts of linear momentum, angular momentum, work and energy. Includes a discussion of the conservation of momentum, why the concept is needed, and some applications of the concept to collisions and rotating objects. The nature of energy is also discussed, along with the different forms of energy, and how the concepts of energy and work are related.