Game of economic choices

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Game of economic choices

Post by tanmay_nagpal007 on Wed Apr 26, 2017 12:16 pm

Aha moment: Economics is about making choices under scarcity; but every choice has an associated opportunity cost, not just that; once a decision is made and investment done, it becomes a sunk cost for all future decisions and must not be assumed for future decision making "Don't fall victim to Sunk cost fallacy"

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