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All main topics / Business Economics / History of Economics / ECON 2200 Exam 1

What are the "Five Propositions for Economic Reasoning" outlined in Econ Insight 1.1?

People make choices (scarcity)
Choices impose costs (opportunity cost)
incentives matter
institutions matter
opinions are more valuable if they are based on facts

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Flashcard info:

Author: savhighsmith

Main topic: Business Economics

Topic: History of Economics

School / Univ.: UGA

City: Athens

Published: 15.09.2010

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