1) People face trade-offs.
(2) The cost of something is what you give up to get it.
(3) Rational people think at the margin.
(4) People respond to incentives.
(5)Trade off can make everyone better off
(6) Markets are usually a good way to organize economic activity.
(7)Goverments can sometimes improve market outcomes.
(8)A country’s standard of living depends on its ability to produce goods and services.
(9) Prises rises when the government prints too much money.
(10)Society faces a short run tradeoff between inflation and unemployment.
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(2) The cost of something is what you give up to get it.
(3) Rational people think at the margin.
(4) People respond to incentives.
(5)Trade off can make everyone better off
(6) Markets are usually a good way to organize economic activity.
(7)Goverments can sometimes improve market outcomes.
(8)A country’s standard of living depends on its ability to produce goods and services.
(9) Prises rises when the government prints too much money.
(10)Society faces a short run tradeoff between inflation and unemployment.
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