Economics

Several principles of economics come to play in an individual’s decision-making such as a purchase of a new house.  These include the following principles that generally, all rational consumers abide by: (Mankiw, 2001, p. 4-16): a. In making decisions, people have to face trade-offs.  Consumers are faced with several options, especially when deciding what to purchase. If resources were unlimited, then people do not need to decide which among these options one must choose from. This...

The development of stadiums in most of the developed countries is precipitated by a considerable lobbying and discussions on the feasibility and the related benefits of establishing a stadium in a given locality (Baade, R. & Sanderson 77). An economic analysis is also carried out and this will be the focus in this study. This assessment stands out as the most fundamental yet it has in the past generated controversies between opponents of government funding and private enterprise. Economists...