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How People Make Economic Decisions 1

How People Make Economic Decisions ECO/212


2

How People Make Economic Decisions Decision making skills vary from one household to the other in today’s economy; however, each individual’s goal is to get the most for their money. When making decisions, there are 4 principles that are involved. These principles are evaluating what one is giving up to obtain their goal, facing trade-offs, responding to incentives, and thinking at the margin.

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Eco 212 week 1 individual assignment how people make economic decisions paper