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Sublight2097 Sublight2097
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8 years ago
"My son is a smart entrepreneur. Rather than borrow money from others, he used his own savings to start his music business, and thereby avoided paying interest on loans." An economist would respond by saying
A) "both you and your son are complete idiots."
B) "it's always good to avoid borrowing and paying interest."
C) "nobody can avoid paying interest, not even your clever son."
D) "your son might have avoided paying interest, but he also avoided earning interest."
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
Happy to assist!
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