How economics impacts your own life.
Discuss how economics impacts your own life.
After going through chapter 1 and the author’s 10 Principles of Economics, give an example or two of how you might apply these principles to your own life and your own decision making.
Think about:
What are some trade offs you have had to make? What has been the opportunity cost of making those tradeoffs? How have you thought on the margin in the past? What incentives have you responded to?
How has trade made your life better/worse off? How have you experienced the “invisible hand”? Has the actions of government improved your life more than the market?
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