The TOP 10 things we should know about economics :
1) Nothing is free. Costs is involved with every choice.
2) All decisions are made by individuals. Individuals bear the cost of these decisions.
3) Voluntary trade creates wealth for both buyer and seller.
4) They do not set prices. We set prices.
5) You can have too much of a good thing. Utility is diminishing.
6) Unemployment by any other name is probably not unemployment.
7) What is true in the long run might not be true in the short run.
8) Policymakers who manage expectations can manage reality.
9) If given a choice between inflation and deflation, choose inflation.
10) Individuals are better at managing their finances than are governments.
Qien 19 ;)
1 comment:
Pakar econs :D
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