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
Economists split the world into two main views to understand how we function: 1. Microeconomics (The Small Scale) Focuses on how individuals and businesses make decisions. We usually decide based on the "next" unit