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Economics Is Everyday Decision Theory
- Economics is fundamentally about making decisions when you face trade-offs.
- Applying simple economic thinking helps you be more intentional with time and choices.
Always Count Opportunity Costs
- Treat opportunity cost as what you give up when you choose an action.
- Include both money and time when weighing whether an activity is worth doing.
Use A Rule Of Three With Opportunity Costs
- When setting priorities, compare each choice against its best alternative.
- Make your daily 'rule of three' tasks those whose outside options are weakest.
