from selfish individual actions.

Fourth, even people who focus on their own self-interest in the economic part of their life often set aside their

own narrow self-interest in other parts of life. For example, you might focus on your own self-interest when
asking your employer for a raise or negotiating to buy a car. Then you might turn around and focus on other

people when you volunteer to read stories at the local library, help a friend move to a new apartment, or donate

money to a charity. Self-interest is a reasonable starting point for analyzing many economic decisions, without

needing to imply that people never do anything that is not in their own immediate self-interest.

BRING IT HOME

Choices ... to What Degree?
What have we learned? We know that scarcity impacts all the choices we make. An economist might argue that

people do not obtain a bachelor’s or master’s degree because they do not have the resources to make those choices
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