Summary

• The fundamental lessons about individual decision making are that people face trade-offs among alternative goals, that the cost of any action is measured in terms of forgone opportunities, that rational people make decisions by comparing marginal costs and marginal benefits, and that people change their behavior in response to the incentives they face.

• The fundamental lessons about interactions among people are that trade and interdependence can be mutually beneficial, that markets are usually a good way of coordinating economic activity among people, and that the government ran potentially improve market outcomes by remedying a market failure or by promoting greater economic equality.

• The fundamental lessons about the economy as a whole are that pwductivity is the ultimate source of living standards, that growth in tlx- quantity of money is the ultimate source of intlation, and that society faces a short-run trade-off between inflation and unemployment.

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The Secrets Of Winning Business Grants

The Secrets Of Winning Business Grants

Why Some Grant Applications Almost Always Win A Double Take And Get Approved More Often! How To Write A Winning Grant Application In One Evening. Are you looking to secure extra money for your business venture?

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