Search

ECON 545 Week 1 | Case Study 1: Choices, Trade-Off, and Economic Systems

Overview Every time we choose to do something (consume it or produce it), we give up doing or gaining something else that could give us a certain level of benefit or satisfaction. Choices exist because of our limited (scarce) resources. Even if you were the richest person in the United States, you still cannot do more than one thing at a time. For example, you cannot watch a movie and sleep at the same time, and you cannot fish and bike at the same time. When we make choices, we usually weigh se..

$15.00