Review the six core principles of economics, from topic 2 this week. People choose All choices involve costs (opportunity cost) People respond to incentives in predictable ways Economic systems influence choices and incentives Voluntary trade creates wealth The consequences of choices lie in the future Then, write a 500-600 word essay on how these core principles apply to your most recent online activity as a consumer. In your work, be sure to include a definition of the new media economy.

Review the six core principles of economics, from topic 2 this week. People choose All choices involve costs (opportunity cost) People respond to incentives in predictable ways Economic systems influence choices and incentives Voluntary trade creates wealth The consequences of choices lie in the future Then, write a 500-600 word essay on how these core principles apply to your most recent online activity as a consumer. In your work, be sure to include a definition of the new media economy.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section: Chapter Questions

Problem 21AA

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