Chapter 1-Scarcity, Choice, and Opportunity Cost
Every time you make a choice you incur an Opportunity Cost. the most valued opportunity or alternative you give up to do something . Rule Number 1…Scarcity --->Choices --->Opportunity Costs. Thinking at the Margin-deciding how much more or less to do of something-Increase the opportunity cost of doing something ---> Do less of it-Decrease the ... ................
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