as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
list 3 economic principles.
user
three economic principles are supply and demand, incentives, and opportunity cost. supply and demand refer to the forces of the market that determine the prices of goods. incentives are rewards that encourage or discourage certain behaviors. opportunity cost is the value of the foregone alternative when making a decision.
assistant