ELI5: Explain Like I'm 5

Economics (Aristotle)

Economics is how people make and use money. Aristotle was a very smart philosopher who lived a long time ago, and he had some good ideas about economics.

Aristotle thought that the best way for people to make money was by using their talents and skills to make things that other people want. For example, if someone is good at making shoes, they can sell their shoes to people who need shoes. This helps them make money, and it also helps other people get what they need.

Aristotle also thought that it was important for people to use their money wisely. He believed that people should spend their money on things that are important, like food, shelter, and education. He thought that people should save their money for when they really need it, instead of spending it on things they don't really need.

Finally, Aristotle believed that it was important for people to work together to create a strong economy. He thought that if everyone worked together, they could create more things and make more money, which would help everyone in the long run.

Overall, Aristotle had some very smart ideas about economics, and they are still important today. Whether you are making money, spending money, or saving money, it's always a good idea to think about how you can use your resources in the most efficient way possible.