PLEASE FOLLOW THE INSTRUCTIONS: APA FORMAT, WRITTEN IN THRID PERSON, UPDATES SOURCES.
- Individual Ass INDIVIDUAL ASSIGNMENT: How People Make Economic Decisions Paper
- Write WRITTE a 825 -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.