For this written assignment, choose Two out of the “Six Economic Ways of Thinking”, and write about those Two examples you choose, The Six Economic Ways of Thinking are “Trade-off, Rational Choices, Benefit, Opportunity Cost, Margin, Incentive. I provided a picture file for your convenience. So please pick any TWO of the “Six Economic Ways of Thinking” and write about it. , and answer the following questions. Please answer each question in detail and write at least 250+ words for this assignment. You must also write complete sentences in written assignments. “Yes” and “No” only and one-sentence answers are not accepted. I proved all the notes you need for Chapter 1 and the files are provided here, you may skim through it quickly and see its only based on “Six economic Ways of Thinking” chart. Please write this essay based on the files i provided, and in your own words based on your life or any other common person life if you prefer any other example is fine but based on real life concepts, and base this writing on “Six Economic Ways of Thinking” and please DO NOT forget to incorporate one situation in which you had to use marginal decision making in this essay.
Choose “two” of the “Six Economic Ways of Thinking” and provide real-life original examples of these two principles (and perhaps even explain how they relate to your life). Please include original examples and include a detailed explanation. (Follow the instructions below very carefully).
AND in corporate this in essay, Explain one situation in which you had to use marginal decision making.
Definition: marginal decision making – Marginal decision-making means considering a little more or a little less than what we already have. We decide by using marginal analysis, which means comparing the costs and benefits of a little more or a little less.
I provided the files for everything you need to write this essay, use your real life examples or any common examples is fine to write this paper.