We use economic concepts on a daily basis without even knowing it! When you decide whether or not to eat lunch at a restaurant or make a sandwich at home, you are making a decision based on the costs and benefits of those options. Economists use these same basic tools to examine economic issues. Think about one choice you made in the past several days and explain how this could be analyzed using economics concepts such as tradeoffs, opportunity costs, and marginal analysis.
We use economic concepts on a daily basis without even knowing it!
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