Economics lesson 10

To answer this question, we have to understand the basis of spending. Why does someone spend money? For most people, ultimatley we buy things and spend money for the pleasure of it. The dopamine release of getting something you want, by trading for it. I want that so I’ll trade you paper money.

With this understanding, lets look at the question, “If you were flying across country, would you rather sit in first class, or would you rather your parents gave you the difference between the first-class fare and the coach fare?”

First class is a pleasurable experience that can be paid for. It is high end travel for a high end cost. To answer this question, you have to look at your spending long term. Would you rather have a nice day, or use that difference of money to buy something that will make you happy for a longer amount of time. Personally, when I spend money, I would like to spend it on something that is worth my time. First class is just a more expensive version of something that can be done cheaper in economy. If the journey is more imoportant than the destination, go first class. However, just like most travelers, the destination is more imporant. Flying economy means having cash in hand and being to spend it on whatever you’d like. To me, I would fly economy, and rather have the freedom to spend the difference on things that will ge

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