sum6 - I think the latter part of the statement is very...

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11/16/2010 Mka 3702 People’s choices have consequences that lie in the future . The important costs and benefits in economic decisions are those that will appear in the future. Economics stresses the importance of making choices about the future. People cannot choose to change the past. I think that this is the most important of the six Economic reasons because it states that choices involve consequences. I know that this statement pertains to everybody when they are making decisions because all decisions involve either a consequence or a benefit; therefore it is imperative for everybody to analyze the situation correctly before making a decision. We have to think long- term rather than short- term because not only will some of our choices affect us now, but they will certainly affect us in the future.
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Unformatted text preview: I think the latter part of the statement is very true because in most important decisions, you will not see the benefit or the costs of that decision. Most times that you will immediately see the cost or benefit is when it is a trivial decision; choices such as going to college or buying a house both benefits or costs that you will see in the future. Additionally, people cannot change the past. I am sure that some people would love to do certain things over if they could, but life does not work that way, so it is important to learn from ones mistakes and do better in the future. This goes along with decisions made, if you make poor mistakes in the past, it is important to realize bad decisions made and make better ones in the future,...
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sum6 - I think the latter part of the statement is very...

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