According to the economics perspective does earning a college degree make good economic sense? Remember, 1) write in third person 2) apply the principles and concepts from the economics perspective into the economic analysis 3) explain ideas in detail using economic logic 4) Do not consider additional sources. Economics is the social science which examines the burden of scarcity; limited resources relative to unlimited human wants. Economists emphasize the answer to many questions is not black and white. Most geopolitical and economic issues involve choices, trade-offs and costs. Consider the contents of the "How green are electric cars? It's Complicated" video produced by The Guardian. From the economics perspective, does the transition to electric passenger vehicles make sense? Answer the question using bullet points. REMEMBER - Answers should be constructed using the concepts and principles from the economics perspective. The Economics Perspective - Economics -limited or scarce resources vs. unlimited human wants and needs, economics as a social science, scarcity choices and costs; Rational Behavior, Opportunity Cost, Marginal analysis - MB vs MC, Incentives matter; Economic events create secondary effects; Generalizations, Other things equal - ceteris paribus; Macroeconomics vs Microeconomics; Positive Economics vs Normative Economics; 8 Economic goals; Economic fallacies; Voluntary trade; Economic models - Economic theory's ability to predict, Economic systems - Capitalism vs Socialism; "You can tell an economist, But you can tell him much" -economists do not always agree on policy