Macroeconomics is the study of the issue that are caused by those choices, such as shortages.
- For example, the obesity problem. The problem was not McDonalds because McDonalds took the advantage of the ironic allegory and had everyone's incentive by filling them with a cheap meal. The impact of being obesity has lowered today because the incentive of the public and the customers have more interest towards health and technology.
- Economist is not how to get to the goal but by the process and the way of thiking as it gets to it's goal.
- Economics should be studied by:
- Provides appreciation of the world around us
- Understanding the concept at hand
- Knowing the facts
- INTENTIONS DO NOT EQUAL RESULTS
- Knowing the acts is important because if you end up being wrong or use a bad analysis, then the power plant that you would like to build will not be efficient.
- The brain is divided into types, C and M are discussed which are scientific and emotions, respectively. People have a harder time discussing type C due to a scientific perspective being difficult. Type M gets you into harder types of problems to get out of because of unplanned order.
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