MGEA01H3 Study Guide - Carpool, Washing Machine, Margarine

• School: UTSC
• Department: Economics for Management Studies
• Course: MGEA01H3
• Professor: Michael H O

Document Summary

1-1: explain how each of the following situations illustrates one of the four principles of individual choice, you are on your third trip to a restaurant"s all-you-can-eat dessert buffet and are feeling very full. Brainiacs, inc. , which will pay you ,000 per year. Explain your answer: the restaurants across the street from the university dining hall serve better-tasting and cheaper meals than those served at the university dining hall. The vast majority of students continue to eat at the dining hall: you currently take the subway to work. Although taking the bus is cheaper, the ride takes longer. So you are willing to pay the higher subway fare in order to save time. Alberta, near the projects, restaurants and other consumer businesses are booming: in the mid-2000s, spain, which was experiencing a big housing boom, also had the highest inflation rate in europe. Summary: all economic analysis is based on a list of basic principles.