Robinson Crusoe economy

ID: robinson-crusoe-economy

The concept of a "Robinson Crusoe economy" is a theoretical construct used in economics to illustrate fundamental concepts of economics, particularly in the context of individual decision-making and resource allocation. It is named after the character Robinson Crusoe from Daniel Defoe's novel, who is shipwrecked on a deserted island and must make decisions about how to use his limited resources for survival.

New to topics? Read the docs here!