Tradeoffs- the simple idea that when money is limited, you have to decide between filet mignon and paying the cable bill- is the first thing you learn in economics. It’s one of those ideas that is so obvious that it makes people who don’t read economics say “no S#!!, Sherlock!” to people who do. But I think this idea has power far beyond the obvious. It might be one of the top one or two things that a parent can teach a kid. And it’s healthy to remind ourselves of it once in a while too.
Love the chart! 💥