A New House Readines - Copy

A New House Readines - Copy - Running head: A NEW HOUSE...

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Running head: A NEW HOUSE READINESS 1 A New House Readiness Kayla Stevens XECO212 July 15, 2011 Angela C. Smith
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A NEW HOUSE READINESS 2 A New House Readiness Buying a new home is a huge commitment, one that should not be taken lightly. Many thoughts and decisions go into buying a house, and proper research must be done. The ten principles of economics can play a major role in economic decisions. That is, if you choose to utilize them. One of the principles that apply to the decision of buying a home is principle two: The cost of something is what you give up to get it. Making decisions requires comparing the costs and benefits of alternative courses of action. In many cases, however, the cost of some action is not as obvious as it might first appear. The opportunity cost of an item is what you give up to get that item. Giving up something when buying a house, because it is such a lengthy purchase, is almost always a must. Another principle that I believe applies to buying a home is principle four: People respond to incentives.
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This note was uploaded on 08/10/2011 for the course MAT 117 taught by Professor Al-kofahi during the Summer '09 term at University of Phoenix.

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A New House Readines - Copy - Running head: A NEW HOUSE...

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