Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
· Submit a 250- to 300-word response addressing the following points:
o Which of the 10 principles do you think plays a major role in your decision?
o Provide an example for each about decision-making, interaction, and the workings of the economy.
o Explain how that influences the marginal benefits and marginal costs associated with the decision to purchase a house.