Economists split the world into two main views to understand how we function: 1. Microeconomics (The Small Scale) Focuses on how individuals and businesses make decisions.
The risk-takers who combine the other three to start businesses.
How much more expensive things get over time, reducing our "purchasing power."
We usually decide based on the "next" unit. (e.g., "Is the extra hour of sleep worth the extra stress of being late?"). 2. Macroeconomics (The Big Picture)
