Decision Making Principles of Economics Discussion
Decision Making Principles of Economics Discussion
The following news article is a good illustration of real-life examples of how principles of economics shape our decisions and our life. Please read the following news article and chapter 1 of your textbook, answer the question below:
First, read the news article above. Then, address the following :
What are the four principles of decision-making?
Which of the four decision-making economic principles of economics do you think this article illustrates? State at least two principles.
Why do you think the two principles that you have selected are illustrated in this article? Explain your reasoning.
Illustrate one example, where you have used any two of the four decision-making principles in one decision.
Respond to two of your peers who selected different economic principles than yours to illustrate an example that they have used in one decision.
- Illustrate a different example, where you could have used the two principles that your peers selected in one decision.
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