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> most high school graduates in the US come out with a good basic understanding of supply/demand and labor/capital basic inputs to businesses

I profoundly doubt this

surveys show that if you ask most people what happens to the price of X when the number of X available increases, people correctly understand that the price falls and vice versa. There are some things though, particularly housing, where more people think the opposite happens.

> most high school graduates in the US come out with a good basic understanding of supply/demand and labor/capital basic inputs to businesses

If this was true politics would be so profoundly different the entire world would be unrecognisable.

> People confuse personal finance and budgeting with economics in general and don't know how to correctly think about the difference between legal and economic incidence of taxes like tariffs on imports.

Or like treating the debt of a country in a similar fashion to household debt.

You get further thinking about the similarities between the debt of a country and that of a household then you do concentrating on the differences.