Jenny is a senior in high school who needs to decide between going to college to earn a degree or beginning a career right away.
She weighs her options, including the advantages and disadvantages of each option. What is this decision-making process called? incentives thinking at the margin tradeoffs cost-benefit analysis
If a state government is trying to decide whether to repair area bridges or make improvements to local schools, then economists and sociologists are most likely engaged in a "cost-benefit analysis".
