Friday, November 2, 2007

Quick Economics Lesson

I feel it's time for a quick Economics lesson. Central to economics is the idea of marginal benefit and marginal cost.

Applied to actions, marginal benefit is what you stand to gain and marginal cost is what you have to lose. It's also what you give up by doing that one thing, but do I really look like an economics teacher?

Anydangways, a real life example can be observed. Apparently American diplomats that don't want to go to Iraq will be forced.

Abstract studies you learned about in school; not just for school anymore!

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