six principles of economics the handy dandy guide 1 people choose people choose the alternative which seems best to them because it involves the least cost and the greatest benefit ...
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...Six principles of economics the handy dandy guide people choose alternative which seems best to them because it involves least cost and greatest benefit key questions what is choice being made who making all choices involve opportunity second give up when they make their are alternatives refused a respond incentives in predictable ways actions or rewards that encourage act change s behavior changes potential benefits costs have changed economic systems influence individual how cooperate governed by written unwritten rules as others influenced individuals situation system voluntary trade creates wealth can produce more less time concentrating on do surplus goods services be traded obtain other valuable why exchange taking place not future consequences ones matter important decision those will appear only we sunk don t cannot things happened past you foresee today decisions uncertain risky...