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Gregory Mankiw Decision Making

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Through the years there has been a great variety of people who desire to have or get more. Oftentimes, it is learned and realized that more a person gets is based on what that person is willing to give up. Making a sacrifice can be tough at times, but that is the choice many people make in order to advance in the world. With the ongoing changes in society the demand to stay ahead can become overwhelming. Now, Gregory Mankiw identifies several principles to how people make decisions. One principal in particular, Gregory Mankiw identifies is “the cost of something is what you give up to get it.” The decision that are made could have an unexpected effect on others. Proverbs 3:5-6 New Living Translation (NLT) advises, “Trust in the Lord with all your heart; do not depend on your own understanding. Seek his will in all you do, and he will show you which path to take.” Therefore, people should be cautious and careful about the paths chosen in life. Gregory Mankiw mentions “making decisions requires comparing the costs and benefits of alternative courses of actions. …show more content…

There is nothing wrong with having goal and achieving them as long as it is done in to correct and proper manner. Many people are willing to spare no expense just to get what they want. Unfortunately, many of them find the outcome to be just and challenging as the journey along the way. Succeeding and overachieving does come at a cost, which is not always in monetary form. Some of those costs include sense of reality, family, marriage, relationships, friendships, and most importantly spiritually. Doing whatever it takes to reach a certain level in life at times result to greed or greedy intentions. Proverbs 28:25 New Living Translation (NLT) confirms, “Greed causes fighting; trusting the Lord leads to

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