I have conversations with my nieces and nephews about practically everything. Business, power dynamics, opportunity cost, risk, upside and downside, social inte

I have conversations with my nieces and nephews about practically everything. Business, power dynamics, opportunity cost, risk, upside and downside, social interactions, reputation, local optima and global optima (if you could ever know them in real life), growth, compounding, mastery, competitive and comparative advantage, etc. I do that first without introducing the concept and by asking questions that lead them to extract the insight, then I'll put the term on that at the end with some references and the prior work on a topic. I was putting some food in the microwave and my then 12 year old nephew was with me. We were in a short conversation about the price of things and he arrived at the concept of a loss leader. I mean he really understood it. Then I told him what it's called. I merely guided the conversation with questions that challenged his intuition, presented counter-examples to intuitive answers. He'd just "hmmm", then think about it for a few seconds, then upend his hypothesis. It was beautiful to watch.