Principle of Economics

Principle of Economics

List and briefly explain the principles of individual decision-making.

Provide an example of a decision in which you compared the marginal benefits and the marginal costs associated with that decision.

What were the marginal benefits and marginal costs associated with that decision?

What incentives could have led you to make a different decision?

Explain how the principles of economics affect decision-making, interaction, and the workings of the economy as a whole.

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