1. Economics Principles: Importance and Advantages
A very important principle states that "The Cost of Something Is What You Give up To Get It", this principle basically says that the cost of an item or service is what you sacrificed (time, labor, money, etc.) in order to produce it or to accomplish it. ... This principle is so basic that it is hardwired into our mammalian brain and we share the response to incentives with other mammals like dogs, when they are being trained they are rewarded with a cookie every time they perform the action that we want, that way they learn how to act in order to get what they want. ...
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- Grade Level: Graduate