1. Which of the 10 principles do you think plays a major role in your decision? * After reading the 10 principles, I think that 1 People Face Trade-offs, and 2 The Cost of Something is what you give up to get it are the principals that will play a major role in my decision to purchasing a new home. I say “People Face Trade-offs” because in order to buy a house I will have to make sacrifices and give up certain things I like to do so that I can spend that time researching and looking for the perfect home. I chose 2 “The cost of something is what you give up to get it” because not only will I have to sacrifice some of the fun things I like to do but I will have to refrain from spending money on unnecessary things like Starbucks in order to save money. Buying a house is a big step and it will take lots of time and money to close a deal on a house. From researching the right community, home, schools that are close by as well as the miles to and from work. It will take a lot of time. Not only will purchasing a new home take up time but also saving money will be a must. I will have to cut back on certain things and save every bit of cash that I can in order to buy the home that I want. That way when I finally find a house that I like I will have a good amount of money for a down payment. Then I will have to figure out what I will need to sacrifice in order to make the payments. 2. Provide an example for each about decision-making, interaction, and the workings of the economy. * Decision-making is the actions that you decide to do in order to get something done. In the scenario of buying a home, the decision-making would be what house is best to buy, where it is located, and how can I afford it. The decision to save money and sacrifice my time that I would normally use to do fun things in order to look for and buy a new home, this is a good example of