Question

You have been invited to the "Party of the Year", but the next day you have the final exam in a required course in your major. Which Principle of Economics best describes your decision?

Answer 1

Answer: " People face off trade offs"

Explanation:

" People face trade-offs" best describe the decision. So, there is a trade-off between studying for the final exam on a next day and enjoying a party. I can take the advantage of the one decision only if i left out the other decision as it is.

It clearly shows that if a people wants to get something from the one component then they have to sacrifice the other component.