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".
The 'underground railroad' was known as such due to the slaves using it to escape and the people helping them to escape using secret codes that were commonly associated with railroads.
(Ex: 'station masters' = people who would hide slaves)
