Chapter one

 

1. What in this chapter made you think about an economic concept differently than your previous beliefs?  
2. What new questions do you have now about the US economy based on this chapter?

    Chapter one of the text briefly explained the theory of economics and listed the 10 Principles of Economics. 

I do think of trade the offs in my life decisions, but I do not really use economics theory to understand the decisions I make. This is be fun to start to understand and perhaps change some habits. 

Incentives to shop. That is how the US government is trying to kick start our economy. I listen to Kai Ryssdal on Marketplace and he is always reminding listeners that our economy is based on us consumers, on the shopping we do and the things we buy. I will be interested to see what incentives work in our new economy and which never get of the ground. I am also interested in seeing where the fraud came from and who really benefited from government interventions.