Basic Economics Principles

The 10 Principles of Economics: Principles 1 - 4 | Macroeconomics

As we make our way through the 10 principles of economics, we'll start with the first four principles that deal with how people make decisions. These four principles are: People Face Tradeoffs, The Cost of Something Is What You Give Up to Get It, Rational People Think at the Margin, and People Respond to Incentives. Let's take a look at the ...

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