CHAPTER 1 Scarcity, Choice, and Interactions for Individuals and Countries.pptVIP

CHAPTER 1 Scarcity, Choice, and Interactions for Individuals and Countries The Central Idea Tiger Woods Economics major at Stanford in 1996 before he chose to become a golf professional Sportsman of the Year 1996 Winner of 65 tournaments by the end of 2008 Includes 14 major championships Over $80 million in prize money Over $500 million in endorsement income on the first decade of play Expected to be the first athlete to earn $1 billion in income The Central Idea Tiger Woods had to make a choice: continue his college education or become a PGA Tour professional. Tiger’s story illustrates the i