Individuals make economic decisions based on a variety of reasons. The rationale is based on each individual's need or desire for a commodity. People go through several decision-making processes before making the final decision and are often unaware of it. Obviously, decision making covers a wide area, involving virtually all human action. Often people are unaware of the process. The four principles of individual decision making suggest that people face trade-offs. People have to give up one thing to acquire another. This includes money, time, resources and energy. The cost of something is what a person is willing to give up to get it. Therefore, the need is to find an alternative and then compare and contrast the costs and benefits of the alternative action by making a rational decision. Rational people think at the margin. Rational people intentionally evaluate options and opportunities. Marginal benefit is seen from the perspective of consumers, while marginal cost affects producers. ...