Explain how the higher education industry is similar to a marketplace using terms and concepts commonly used by economists. For example, how do concepts such as demand and supply, buyers and sellers, and competition and production relate to our study of the economics of higher education? Throughout this course, you will gain a sharper understanding that economics and budgeting are primarily about making decisions and planning ahead. What are some biblical principles that can be applied to making choices and planning?
Support your discussion of a biblical worldview with specific Scripture passages.