Economics was a little challenging for me but a teacher like you helped me overcoming that challenge, that is what it made my perception and understanding meaningful.
Economics has insights that anyone can apply to their daily life. It does not allow us to predict the world but it does make us see the world more clearly. Here are my some unforgettable learning of life that economics taught me.
Take Well Analyzed Risks Particularly When There Is Little To Loose More To Gain
Never be afraid of making decisions when you have examined everything with systematic approach keeping every factor in mind. So Embrace it!
Nothing Is Free
Opportunity Cost is one of the fundamentals of economics. I realized even time is not free. Whatever I'm doing doesn't matter studying, playing, watching movies I'm paying for it in some or the other way.
People Are Rational
People may not be brilliant but everyone can sense the importance of world and economics in their own way. I'm having fear of heights suffering from aerophobia but why others are ready to skydive. May be people decide it as highest rank alternatives. People respond to incentives if the price of a product falls ultimately demand increases at normal factors. They aren't dumb they sense and respond it.
Maximize Your Lifetime HappYness
People are short sighted. Avoid it! Always keep the big picture in mind. Think about it! Almost every decision has investment either its relationship, hobbies, career or goal. If rewards will pay off over the time. I should have patience. Debt plus and no debt comes into a play. Prefer to choose debt plus.
Ignore Sunk Cost
Nothing can change the past. Avoid throwing away more time and money instead focus on maximizing future benefits. Always act in the present to make this world a better place for you and me.
Economics has insights that anyone can apply to their daily life. It does not allow us to predict the world but it does make us see the world more clearly. Here are my some unforgettable learning of life that economics taught me.
Take Well Analyzed Risks Particularly When There Is Little To Loose More To Gain
Never be afraid of making decisions when you have examined everything with systematic approach keeping every factor in mind. So Embrace it!
Nothing Is Free
Opportunity Cost is one of the fundamentals of economics. I realized even time is not free. Whatever I'm doing doesn't matter studying, playing, watching movies I'm paying for it in some or the other way.
People Are Rational
People may not be brilliant but everyone can sense the importance of world and economics in their own way. I'm having fear of heights suffering from aerophobia but why others are ready to skydive. May be people decide it as highest rank alternatives. People respond to incentives if the price of a product falls ultimately demand increases at normal factors. They aren't dumb they sense and respond it.
Maximize Your Lifetime HappYness
People are short sighted. Avoid it! Always keep the big picture in mind. Think about it! Almost every decision has investment either its relationship, hobbies, career or goal. If rewards will pay off over the time. I should have patience. Debt plus and no debt comes into a play. Prefer to choose debt plus.
Ignore Sunk Cost
Nothing can change the past. Avoid throwing away more time and money instead focus on maximizing future benefits. Always act in the present to make this world a better place for you and me.
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