eco/561 3 substantive post 175 words each

7TH EDITION, © 2019

By Robert Frank

Read the following chapters of Principles of Economics in McGraw-Hill Connect:

Ch. 1, “Thinking like an Economist”

Ch. 3, “Supply and Demand"

Respond to the following in a minimum of 175 words:

Discussion 1

People may make bad decisions because they fail to compare the relevant costs and benefits. Do you agree? Provide an example of when you made a bad decision, and an example of when you made a good decision. Did you compare the relevant costs and benefits?

Discuss an example of behavior you have observed that could be described as “smart for one but dumb for all.”

Reply to at least 2 of your classmates. Be constructive and professional in your responses.

#2 will add later

#3 will add later