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Cite an example on how you can use economics in a real-life situation.

Sagot :

Buying goods which give the highest satisfaction for the price.

Sunk cost fallacy.

Opportunity Cost.

There's no such thing as free parking.

Behavioural economics and bias

Irrational exuberance.


On the other hand.


Diminishing returns.

SANA MA-APPRECIATE:)