Kevin (Compare)

Principle 1 and Principle 2 are similar because both of them speak about gaining one item while at the
same time, losing on another item. Principle 1 shows this as it states that when you buy one product,
the less you will have to spend on the other product. Principle 2 expands on this by saying that when
you choose to buy an item, what you gave up is referred to as the opportunity cost.

Carlisle (Contrast)

Principle 1: People make tradeoffs and principle 2: The cost of something is what you give up to get.
Even though these principles are fairly similar, there still is a noticeable difference. Principle 1 speaks
about dividing your resources in order to purchase more of a product therefore leaving you with less to
buy another, meanwhile, principle 2 speaks more about what you gave up in order to purchase a
product. An example for principle one could be spending more money on electronics, so there will be
less for furniture. An example for principle two could be buying a movie ticket instead of a ticket for a
fair.

Jaylon (Compare)

Principles 3 and 4 are similar because they explain that people will examine situations before making a
decision that is most beneficial to them. Principle 3 states that rational people think at the margin,
meaning that people will consider if a small adjustment to their plan will be beneficial to them. Principle
4 states that people respond to incentives, which means that people will be more motivated to make a
decision if there is an incentive of something to be gained. 3

Zendae (Contrast)

Principle 3 “Rational people think at the margin.” Principle 4 “People respond to incentives” These two
principles show that individuals make decisions based on what benefits them. The difference is how
these decisions turn into action. In principle 3, the decision happens internally, as the individual sees
what marginal change will benefit them. Principle 4 happens externally, as outside forces are the ones
who set these incentives. These outside forces could include the businesses, and the government.

Terrel

Principle 5, Trade can leave everyone better off. This principle speaks about how trade can enable
individuals and countries to produce and sell/export what they are best at making and buy/import what
they are not respectively. This relates to other principles as it enables individuals more choice which
then brings competition of business. This is whereby incentives, opportunity costs, and tradeoffs are
created. This principle also contrasts from all these other principles. The reason being because this
principle speaks about how trade can benefit entire countries and economies, as opposed to the other
principles which speak about people in general.