On what basis do you make economic decisions? One potential approach is to employ the cost-benefit principle, which suggests engaging only in those actions that create an economic surplus. Considering other criteria such as opportunity costs helps you to make a rational choice. For example, when budget crises occur, local or national governments may opt to cut back on critical programs, while many others may consider raising taxes.by a 250- to 300-word statement that addresses the following: a selection of your colleagues’ postings. by to two or more of your colleagues’ postings in one or more of the following ways: to this Discussion in a few days to read the responses to your initial posting. Note what you learned and the insights you gained as a result of the comments your colleagues made.Be sure to support your work with specific citations from the Learning Resources and any additional sources.