Lesson: How Individuals Make Choices Based on Their Budget Constraint
What did you learn?
| Reflect |
Use this checklist to reflect on your understanding of key lesson concepts.
| I am able to… | Definitely | With help | Not at all |
| calculate and graph budget constraints |
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| explain opportunity sets and opportunity costs |
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| evaluate the law of diminishing marginal utility |
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| explain how marginal analysis and utility influence choices |
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If you selected “with help” or “not at all,” to any of these concepts, go back to the lesson to review the relevant sections.