- What in this chapter made you think about an economic concept differently than your previous beliefs?
In chapter 1 pg4 : 1-1a : People face trade-offs “ you may have heard the old saying , “ there isn’t no such thing as a free lunch” The concept of this is if you think you are getting something for free, you’re probably paying for it through hidden costs . In this chapter I felt like microeconomics involves people and their behavior.
- What new questions do you have now about the US economy based on this chapter?
How the economy works as a whole?
- If you already took Macroeconomics, what is your strongest memory from the material you covered in that class?
I learned a lot from Macroeconomics. For example, the equilibrium and the opportunity cost. Those two really stuck with me.
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