Please respond to the following questions and prompts:

• Think of a time when you were deciding whether to make a large purchase. What factors did you consider as you were making this decision? How might economic concepts like opportunity, cost, and scarcity apply to your decision?
• Do you think that corporations, governments, and other large-scale social groups make economic decisions based on the same set of factors that you make your personal decisions on? Why or why not? Provide examples to back up response.

NOTE: Please cite all sources. Include in text citations (APA 7) as well a full reference list.

Thank you so much!!!