like neat budget constraints or smoothly curving production possibilities frontiers.

However, the economics approach can be a useful way to analyze and understand the tradeoffs of economic

decisions. To appreciate this point, imagine for a moment that you are playing basketball, dribbling to the

right, and throwing a bounce-pass to the left to a teammate who is running toward the basket. A physicist or

engineer could work out the correct speed and trajectory for the pass, given the different movements involved

and the weight and bounciness of the ball. However, when you are playing basketball, you do not perform any

of these calculations. You just pass the ball, and if you are a good player, you will do so with high accuracy.

Someone might argue: “The scientist’s formula of the bounce-pass requires a far greater knowledge of physics

and far more specific information about speeds of movement and weights than the basketball player actually
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