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1. People make tradeoffs - When there are limited resources, then to get something you want, you would have to give up something else that you want that another wants even more.
2. Choosing one thing means giving up something else - If you buy an object will all of your money, you cannot buy something else. If you choose to commit a crime, you choose to also give up the amount of time out of your life that the justice system says that crime is worth.
3. People respond to incentives - Since most think in terms of value, their behaviors will usually change when the incentives change. Incentives can be positive or negative. Positive would be in the form of coupons, while negative incentives would be in terms of laws and penalties.
4. Sane people think in terms of marginal changes and make a change only if the benefits outweigh the costs. For instance, buying a car would mean having to make car payments, but if it allows you to get a good job, then the payments would be worth it.
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