economic principles-every choice is tradeoff

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Posted by Kevin Chin on March 14, 1999 at 21:46:28:

Can i have some ideas and infos of what to write about my assignments on 1 of the economic principles which is (every choice is tradeoff)? Please post up any ideas or comments here for me.
the assigned question asked:

Principle1 : In a world of scarcity, every choice is
tradeoff.Almost all resources can be used many different
ways. In the end, howeverthey will usually be put to only
one use. Therefore, the decision to use a resource in a
particular way means that we have also chosen not to use
it in all other ways. Ask students what they give up to
attend a class. What does a student consider when deciding
whether to skip class or attend?

That is all i asked frem all you kind folks.
Thanks.

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: Can i have some ideas and infos of what to write about my assignments on 1 of the economic principles which is (every choice is tradeoff)? Please post up any ideas or comments here for me. : the assigned question asked: : Principle1 : In a world of scarcity, every choice is : tradeoff.Almost all resources can be used many different : ways. In the end, howeverthey will usually be put to only : one use. Therefore, the decision to use a resource in a : particular way means that we have also chosen not to use : it in all other ways. Ask students what they give up to : attend a class. What does a student consider when deciding : whether to skip class or attend? : That is all i asked frem all you kind folks. : Thanks.

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