Economists study the choices people make from "summary" of The Economic Naturalist by Robert H. Frank
Economists are interested in understanding the decisions that individuals make in their daily lives. This curiosity stems from the belief that people's choices provide valuable insights into how they prioritize their needs and desires. By studying these choices, economists can gain a deeper understanding of human behavior and the forces that drive it.
One of the fundamental principles of economics is that individuals face trade-offs when making decisions. This means that they must weigh the costs and benefits of different options before choosing the one that maximizes their utility. For example, when deciding whether to spend money on a new car or save it for a rainy day, individuals must consider the trade-offs involved in each decision.
Economists al...
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