Economicsandwe -

We usually decide based on the "next" unit. (e.g., "Is the extra hour of sleep worth the extra stress of being late?"). 2. Macroeconomics (The Big Picture)

A central authority (the government) decides what is produced and at what price. economicsandwe

We act based on rewards or punishments. Prices, taxes, and subsidies are the primary ways the economy nudges our behavior. 📈 Two Ways to Look at "Us" We usually decide based on the "next" unit

A blend of both, which most modern countries (including the U.S.) use to balance freedom with social safety nets. 💡 Factors of Production economicsandwe

How much more expensive things get over time, reducing our "purchasing power."

Decisions are made by us as individuals and private businesses.