| A | B |
|---|
| Diamond-Water Paradox | Water for survival - cheap. Diamonds not essential - expensive. |
| Take Care of What Belongs to You | Tragedy of the Commons |
| Value is Subjective | Onions vs. Tomatoes |
| Scarcity | Limited resources |
| Liberty | Free to make and keep your own money. |
| Spend your own money carefully. | Michigan Schools, labor unions and Teachers Ass. |
| Marginal Cost/Benefit | Super size or Value meal |
| Incentives | Rewards or benefits of an action |
| Opportunity Costs | Green grass and parking lot |
| Free People are Not Equal | Not equal: talents, industriousness and savings |
| Encourage Something, get more of it | Luxury taxes, welfare, fatherlessness |
| Gov. gives what it first takes | Gov. takes from us first, does not make money. |
| Consider long term effects | Generations of welfare recipients |
| Sunk Cost | Cost of something paid for, take advantage of new opportunity |
| Rational Decision Making | Smoking and rationally accepting risk. |
