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Assignment due Day 7: How People Make Economic Decisions Paper
Write a 350- to 700-word paper in which you address the
following:
Briefly
explain the principles of individual decision-making.
Provide an
example of a decision in which you compared the marginal benefits and the
marginal costs associated with that decision.
What were
the marginal benefits and marginal costs associated with that decision?
What
incentives could have led you to make a different decision?
Explain how
the principles of economics relate to decision-making, interaction, and the
workings of the economy as a whole.
Briefly
describe the main attributes of the following economic systems: market economy,
centrally planned economy, and mixed economy.
Explain how
economic interactions are affected by the type of economic system present.
Format your
paper consistent with APA guidelines.
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