Submitted by outdunu on May 5, 2008

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Economic Concepts Worksheet

AEconomic Concepts Worksheet
Concept Application of Concept from Personal Experience Reference to Concept in Reading
Utility is the allocation of money, time and energy to maximize happiness and satisfaction. I just recently bought a flat screen television for my bedroom because I wanted the luxury of being about to watch television in the comfort of my bed. Although I had made the decision to get a television, I also have to take into consideration the size and brand I would be purchasing. UtilityBrue and McConnell (2004). Economics: Principle, problems and policies. Chapter 1, p. 4. New York: McGraw Hill Companies
Opportunity Costs are the sacrifices that are...

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