4,993
edits
Social Studies skills: Difference between revisions
→Economics
| Line 521: | Line 521: | ||
* 80/20 rule | * 80/20 rule | ||
* Risk mitigation | * Risk mitigation | ||
* Zero sum transaction | |||
** both sides of transaction receive equal benefit | |||
*** i.e., the buyer and the seller gain equal value | |||
*** thus the "sum" of the transaction is "zero" | |||
=== Milton Friedman's "Four ways to spend money" === | === Milton Friedman's "Four ways to spend money" === | ||
* late 20th century Economist Milton famously defined the "Four ways to spend money": | * late 20th century Economist Milton famously defined the "Four ways to spend money": | ||