Economic Way of Thinking Worksheet
1.
Use the economic way of thinking to explain:
A.
Why men’s and women’s restrooms tend to be located near each other in
airports and other public buildings.
B.
Why diamonds are more expensive than water, when water is necessary
for survival and diamonds are not.
C.
Why people contribute to charities.
D.
This statement: “Increasing the speed limit has, to some degree,
compromised highway safety on interstate roads but enhanced safety on
noninterstate roads.”
E.
Why people leave tips (a) at a restaurant they visit often and (b) at a
restaurant they visit only once.
D.
Milton Friedman’s (Nobel Prize-winning economist) argument that “the
social responsibility of business is to increase profit.”