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The Economic Way of Thinking

The Economic Way of Thinking. Resources are limited. People cannot have everything they want. People must make choices. Every choice involves a cost. People’s choices have consequences. People respond to incentives. Handy Dandy Guide.

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The Economic Way of Thinking

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  1. The Economic Way of Thinking

  2. Resources are limited. • People cannot have everything they want. • People must make choices. • Every choice involves a cost. • People’s choices have consequences. • People respond to incentives.

  3. Handy Dandy Guide

  4. People choose to do the things they think are best for them. • Peoples choices have cost. • People choose to do things for which they are rewarded. • People created rules that affect our choices and how we act. • People gain when they freely decide to trade with one other. • Peoples choices today have future results.

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