Shannan_Coleman_Economic_Decision_Making - Running Head...

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Running Head: Economic Decision-Making Economic Decision-Making Shannan Coleman Eco/212 Susan Dadres August 5, 2010
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2 Economic Decision-Making Economic Decision-Making Whether a person is 18 or 81, he or she makes decisions every day. Decision- making is part of life and humans do it daily. One may make a decision on something as easy as should one buy gas at one gas station for $2.49 a gallon of drive down the street a couple of blocks and purchase it for $2.44 a gallon or something that requires more thought like can they afford to retire or should they continue working. The economy has been through some difficult times and it doesn’t matter what year a person was born in everyone probably has been through one of those times. Going through these times has helped Americans realize that they need to make good and wise decisions in life. Economics consist of three ideas. They are people are rational, people respond to economic incentives and optimal decisions are made at the margin. Let us take a look at each of these. People who
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Shannan_Coleman_Economic_Decision_Making - Running Head...

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