Economist Paul Heyne wrote a famous economic principles textbook entitled The Economic Way of Thinking. Based on your studies, write a short essay outlining what you understand to be the economic way of thinking? What are the key principles and tenets that any educated person should know regarding the science of economics and their applicability in the world today?

Answer rating: 100% (QA)

The key principles and tenets of economics that every educated person should know are 1 People face trade offs This means that people have to make cho... View the full answer