Chapter 1: ten PRINCIPLES of ECONOMICSArt nghữ the economy starting from the Greek and means "housekeeper." this might draw a strange but in fact households and economies have a lot in commonThe society is always limited resources could produce all the goods that people desire like a household could not meet the wishes of all the people, the society also can't make each individual get the highest living standards that they expect it to be called the scarcity of resourcesEconomics is the study of how social subjects manage scarce resources. it economic studies under many different sensations, but this subject is unified with each other in a number of basic principles. In chapter one we will consider 10 principles of EconomicsThe first principle of the 4 we find out about the content of "people out decided how"Principle 1: human beings faced with trade-offThe first lesson about making decisions are summarized in the right bank of nghữ: "nothing is not at all" to get the stuff that most favorite mine that we have to give up something else I liked ghost decides to abandon this to t-1 item 1 other objectivesE.g. If you want to study, you must swap the joy there was when you family to pursue his dream to studyAnd when people gathered into society, they have to face many more swap lọaE.G.; to develop the economies of the splendor, the man supposedly faced with depleted natural resources and environmental pollutionAnd to achieve what I want most, the people faced with trade-offPrinciple 2: the cost of a thing is what you give up to get itBecause humans are faced with trade-off decisions should require the comparison of costs and benefits of the different strategies and actionSuch we consider there should go to college or not? the benefit is the enrichment of knowledge and have better job opportunities, but costs to be able to go to college? that was the money to pay for housing, food and drink and that we do not see clearly it is timeAnd the opportunity cost of something is what you give up to get it when considering any decision, people should know about the opportunity cost to go along with each painting optionsPrinciple 3: the only reason people think in marginal spotsThe economists used art nghữ marginal changes to the tune điiều increase from the existing action plan. change marginal scales are adjusted in the vicinity of what you are doing. by comparing marginal benefit and marginal cost can you go to a proper decision. we will decide the only storage only when action is the benefit marginal cost exceeds marginalE.g. fares of other airlines as the FX 200 k on a weekly bay, vetjet again launched the price is 199k. and costs that customers bought tickets of vetjet is the marginal cost
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