
S E2: Core Principle 1 - The Cost-Benefit Principle - The Pros & Cons
Think Like An Economist
The Cost Benefit Principle
The cost benefit principle reminds you than any decision you face, there's going to be benefit and costs. In the key parts of what betsy said there, don't forget, it's all the benefits, not just the financial ones. And is there anything we can stop practising? Over the next few days, as you find yourself making decisions, pause for a moment and ask yourself why you're making the choice you're making. i bet you'll discover that it's really about costs and benefits.
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