The word "economy" comes from the Greekoikonomoswhich means "one who manages a household." Management of a society's resources is important because resources are scarce. So "economics" becomes the study of how we make choices regarding our scarce resources in order to run our households.There are many facets to economics, but the Ten Principles describe the basic choice process. Greg Mankiw, a Harvard economist and former Chair of the President's Council of Economic Advisors, presents these in his text and the PPT.Describe how you have made choices using one or more of the 10 Principles.