Problem
The foundation for studying the economy is studying the behavior of the individuals within the economy. Four principles of economics focus on how people make decisions: people face trade-offs; the cost of something is what you give up to get it; rational people think at the margin, and people respond to incentives.
Imagine that you are considering starting your own business. Share what you think would be some of the trade-offs involved. Consider the full opportunity cost of running your business. In addition to any inputs you must pay for, might there also be a broader opportunity cost involved in using your own resources, such as time and money, in your new business?