(Answered) One of the lessons of economics is that there is no such

Management Studies

One of the lessons of economics is that "there is no such thing as a free lunch." This means that businesses, consumers and whole societies face tradeoffs whenever they make a decision. Please draw on your own experiences in order to discuss the following:

(1) Explain a decision that you have made at work or concerning your career.

(2) Identify and explain the tradeoffs you faced.

(3) List the alternatives, identify the highest valued alternative, and explain the particular course of action you chose.

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