Lesson 5 of 11 · 6 minutes
Choice and tradeoff
To choose is to rank alternatives. The chosen option is preferred to what was set aside at that moment.
Situation
You have two free hours: practice a skill, see friends, rest, or take extra work. You choose rest.
What does the choice show?
Answering is the main action. The other two controls open the distinctions without marking the lesson complete.
Goal, means, alternative
For your next calendar choice, name the best thing you are saying no to.
Choice is ranking under scarcity. Praxeology makes the ranking visible.
Scarcity and choice are implied by action: if means were unlimited, economizing would not be necessary. Open the source for this claim →
Connected lab
See the same distinction move.
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No graded answer