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Video instructions and help with filling out and completing Will Form 8815 Restrictions

Instructions and Help about Will Form 8815 Restrictions

Music. To get a better understanding of how we make choices, we first need to understand the elements that go into making a decision. Not all of them are within our control. The world is constantly invisibly determining the prices of goods and services. The price of a cup of coffee depends on so many variables: think culture, demographics, the cost of beans, the weather, even the high rent at your hip neighborhood coffee shop. You get the idea. All of this economic activity is magically being simplified into a price for a cup of coffee. How about your salaries? The price of one hour of your labor depends on you, of course, on your skills and effort. But it also depends on many factors outside of your control. For example, the demand for your services, nearby conversations, even how fun your job is. Every day, you make decision after decision about what's divine, comparing hundreds of different goods and services. There are so many choices. To simplify things, let's think about what you would do if you had a weekly budget of $50 to spend on just two goods: coffee and pizza. Coffee costs $5 and pizza costs $10, so pizza is twice as expensive as coffee. There are several different combinations of coffee and pizza you could buy with this money. Let's plot a few of your options on a graph. On the x-axis, we have the number of pizzas per week, and on the y-axis, we have the cups of coffee per week. You could buy two cups of coffee and four pizzas, three pizzas, no coffee, ten cups of coffee but no pizza. When you connect the different options that represent the ways you can spend your fifty dollars, you get a straight line. This is your budget constraint,...