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A feature of traditional economics would be that human being are rational and logical, they will only make decisions that maximize their own financial benefits. Moreover, they will act in their self interest.

Secondly, a firms main aim is to maximize profit by maximizing revenue and minimizing cost of production.

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An example of traditional economics would be the tax placed on demerit goods by the government.

Another example would be the subsidies given to children for their education which will lower their fees and encourage education

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A feature of behavioral economics would be managers of firms may make decision based on factors other than profits, such as concern for sustainability. This may sacrifice profit in order for them to achieve other goals

In addition, Human beings are motivated by psychological, social and cultural factors as opposed to them being rational and logical when making decisions

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An example of behavioral economics would be advertising the harmful effects of cigarettes on health. This would then deter the consumers from purchasing it.

Secondly, use of colour for certain products may entice consumers to purchase more of the product

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Firstly, a firm’s main aim is to maximise profits by maximising revenue and minimising costs. Secondly, consumers make purchase decisions based on accurate knowledge of the costs and benefits of each choice.

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The first example is a discount on local government taxes for using a small rubbish bin rather than a large bin. Another example is a bonus payment to staff if they reach their annual workplace objectives.

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The first example is placing healthy food at eye level on supermarket shelves and the second example is painting green footprints leading to recycling bins.

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The first feature is human beings are motivated by psychological, social, emotional, and cultural factors. The second feature is  consumers do not have complete knowledge and ability to weigh up the costs and benefits of each purchase decision.

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Features of traditional economic in customers includes the rational and logical behaviour to minimise the cost by accurate knowledge of the cost, and maximising their financial benefit, to get the most out of it.
Secondly, in a firm the main aim is to miniseries the cost of production and maximising revenue to make the most money with a low cost.

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1.Example of traditional economics, financial incentive could be a discount/ sale, which encourages more spending under the guise of saving.
2. Subsidies are government incentive programs that provide set amounts of money to businesses in order to help them grow.

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Traditional economics is featured as human beings are rational and logical.For example ,they will make decision to maximise their own financial benefits.

Another traditional economics feature is the consumers make purchase decisions based on accurate knowledge of the costs and benefits of each choice.

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Traditional economics is rational and based on accurate information, an analysis of costs, benefits and self-interest
An authoritative order/law to do or not to do

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Traditional economics may include a feature for the buyers, that they have perfect knowledge about every product and service and can determine the costs and benefits of each of them.

And for the producers or firms, they may be expected to only maximize their profits, minimize costs and pay less attention to factors such as sustainability.

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It's against the law to sell alcohol or cigarettes to under 18 year olds
It's against the law to driver after drinking, or you will be fined

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Traditional economics is characterized by using accurate information to rationally analyze the market and consider their own interests. For example, control costs when manufacturing products to minimize costs and maximize profits.

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The example of traditional economics is Government should increase the tax of drugs ,cigarette or alcohol

The second example of traditional economics is school canteen should increase the prices of unhealthy food .

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A view that economic decision-making is influenced by psychological, social, emotional and cultural factors
Any attempt to influence a person's decision making using psychology and behavioral economics theories.

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1. Cigarette packaging, using a deadly black liver to signify the harm of the product, discouraging consumers to have too much/ buy.
2.putting healthy food in the entrance of supermarket, so customer can have a better view therefore have a better chance of buying

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An example of traditional economics relating to buyers would be that they are more likely to buy products that are cheap or at a discounted rate. So if discounts were placed on wristwatches, more people would be expected to buy them.

Another example related to producers or firms would be that they would want to produce products at a low cost and a high selling price. So if it took $100 to make a wristwatch, they would sell it for $600, and want to make a $500 profit.

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Behavioural economic  is when decision making is influenced by psychological, social, emotional and cultural factors when making economic decision. For example. that is  a person may make economic decision irrationally, or may be influenced by social and cultural factors.

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A feature of traditional economics is consumers make purchase decisions based on accurate knowledge of the costs and benefits of each choice.

Secondly, is human will make decisions that maximise their own financial benefits; they will act in own self-interest.

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Firstly, features of traditional economic in buyers involves that consumers have complete knowledge and ability to accurately weigh costs and benefits of choices. Also, when making purchases, buyers would choose to satisfy their more necessary needs first before satisfying their wants.

Another feature of traditional economics is that a firm's main aim is to maximize profit by maximizing revenue and minimizing cost of production.

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Behavioural economics is featured as the consumers make purchase decisions based on my unpredictable factors including psychological ,emotional, cultural and social factor

The other example is manager of firm makes decision based on factors other than profits. They may sacrifice profit to achieve other goals

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- The first feature of traditional economics is that human beings are rational and logical – they will make decisions that maximize their own financial benefits and minimize their financial costs.

- Moreover, in traditional economics, consumers have access to perfect information and can accurately weigh costs and benefits when making decisions.

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1. Economic decision making is rational and logical
—> to maximise profit and minimise loss

2. Assumes information is perfect

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1. Shopping malls cut prices on goods to encourage customers to spend.
2. In order to develop the rural economy, the government issued subsidies and bonuses to the community to promote everyone's participation in economic construction.

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First, traditional economics is rational, constantly improving their own interests and minimizing costs.
Second, traditional economics relies on the analysis of individual benefits, costs and incomes.

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Behavioural economics includes a feature for the buyers that they are all making purchases based on unpredictable circumstances. So consumers are not taking out the time to measure out the benefits and costs of buying a product and are simply trying to satisfy their wants.

Moreover, another feature but for producers would be that they do care about many other factors other than profit, such as sustainability and upholding their brand reputation. In these cases they may have to sacrifice their profits as well.

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The example of the behavioural economics is apply a purple and gold package on the chocolate .This can make the chocolate more royalty and high standard.

The another example of behavioural economics is add some green colour footprint sticker at the direction toward the recycle bin.This can help people know where the recycle bin is ,because of the colour of footprint and recycle bin are the same.

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First example of traditional economics would be the laws against the use of mobile phones while driving.
Another example is a monetary payment from the government to all businesses who employ a worker over the age of 60.

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Help friends raise even more money by sharing their page
Painting green footprints leading to recycling bins.

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The first example is many merchants will use promotions such as buy two get one free to promote consumers' purchasing psychology. REWORD

The second example is in the off-season of consumption, many merchants will choose to give discounts on products to encourage consumers.

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An example of a behavioural nudge would be if the government took the initiative to create more parks and recreational areas in order to motivate people to engage in physical activities and live a healthier life.

Another example would be if the government created PSA videos to raise awareness on different issues. Such as health issues like lung cancer caused by smoking, the affects of drinking and driving or the environmental problems caused by littering.

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An example of traditional economics is an abolition of university tuition. This will encourage students, especially the disadvantaged, to pursue tertiary education.

The second example is that the government increases the price of petrol and lowers the biofuel price so that consumers will choose to use the greener option.

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A feature of behavioral economics is that it incorporates psychology, sociology, etc.

Secondly, behavioral economics is irrational.

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Firstly, features of behavioral economic in buyers involves that consumers make purchase decisions based on many unpredictable factors including psychological, emotional, cultural and social factors.

Another feature of behavioral economics is that managers of firms may make decisions based on factors other than profit, such as concern for sustainability, their reputation and the desire to innovate. They may sacrifice profit to achieve other goals.

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In behavioral economics, consumers make purchase decisions based on many unpredictable factors including psychological, emotional, cultural and social factors.

The second feature of behavioral economics is that managers of entities may make decisions based on factors other than profit, such as concern for sustainability, their reputation and the desire to innovate. They may sacrifice profit to achieve other goals.

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1,A subsidy for all students undertaking university education.
2The government should increase taxes on cigarettes and all kinds of alcohol.

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The first example of behavioural economics is supermarkets ban the sale of cigarette and alcohol to under 18 age.

The second example is a sign saying don't make loud noises is placed at the entrance of the cinema.

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The first behavioral economics is to demonstrate that most people are risk-averse for gains and risk-seeking for equivalent losses.
The second behavioral economics is a combination of economics and psychology to understand how and why people behave in the real world.

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First example of behavioral economics would be the quit smoking telephone helpline and advertising campaigns

Another example is that placing daily purchases such as bread and milk at the back of the supermarket to ensure customers walk past advertising displays of other items.

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One feature is that human beings are rational and logical - they will make decisions that maximize their own financial benefits; they will act in own self-interest.The another one is that a firm's main aim is to maximize profits by maximizing revenue and minimizing costs.

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1,Placing healthy food at eye level on supermarket shelves
2,A weekly staff newsletter to communicate the good work of employees who have performed well

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The first example of nudge is that businesses can put painted footprints leading to staircases and design lifts in hard-to-see places in order to make employees walk more.

Another example of a nudge is placing reusable containers on shelves that are easy to be seen and placing single-use plastic bottles on the bottom shelves.

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Traditional economics assumes humans behave rational and logical when making financial decisions. Humans make decisions that maximise their own financial benefits. Secondly, in traditional economics, firms' main aim is to maximise profit by maximising revenue and minimising costs.

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An example of the traditional view of economics is providing shopping discounts such as 'buy one get one free' to attract consumers to buy the product. Another example is imposing tax on cigarettes to discourage people from consuming cigarettes.

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The first example is the government offer a subsidy to encourage firms to develop electric vehicles.The second is businesses would offer discount to sell off-season clothes.

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Behavioural economics features humans are motivated by psychological, social and cultural factors. Purchase decisions are easily affected. On the other hand, firms make decisions based on other factors other than producing profit, such as sustainability and brand reputation. Sometimes they sacrifice profit to achieve their goals.

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An example of a nudge is placing health products at eye level in supermarkets. This encourages people to consume healthy products instead of unhealthy food. Another example is advertising the harm of drugs. This will educate people about the disadvantages and therefore nudge them to stay away from drugs.

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One is  economic decision making is influenced by psychological, social, emotional and cultural factors, the  another one is managers of firms may make decisions based on factors other than profit, such as concern for environmental and economic sustainability, employee welfare, the firm's reputation and the desire to innovate.

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Firstly, the government requires people to 'opt out' of the default contributions to their retirement pensions.The second is painting green footprints leading to recycling bins.

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One of the characteristics of behavioral economics is that it is not able to think from an objective and rational perspective, and is subject to external influences, such as social, emotional, psychological and cultural factors. Another one is cognitive dissonance, in which consumers or merchants do not have a completely correct picture of the market economy and thus cannot make correct judgments.

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1. Tax cigarettes to discourage customers from smoking.
2. Starbucks often has people who drink coffee with laptops and don't leave for long periods of time. They are actually employed. The goal is to create an atmosphere for potential target groups to consume.

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The first feature of behavioural economics is that decision making is influenced by psychological, social, emotional and cultural factors. For example, people may buy the product just because their idol is the brand's spokesperson, even they don't actually like and need the product.

The second feature is that the managers of firms may make decisions based on factors other than profit. For example, sometimes they would rather earn less and do charity in order to gain a better reputation for the company.

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The first example is government offering subsidies for families that give birth to one or more children. This is to encourage more people give birth, so that there will be more workforce available in the future to contribute to the society.

The second example is offering discounts in a bakery shop. For example, the price of each apple pie has been reduced to $0.5, instead of the original price $1.0. Besides, an extra 5% off would be available if one buys 20 apple pies. Therefore, people would buy more apple pies than usual because of the promotions.

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The first example is turning on energetic music in Nike, so that people will feel motivated and excited, then happily shop at Nike.

The second example is the placing order of products in M&S. They place the discount items near the entrance and pricey items at the inner part of the shop. This is to create a feeling like you have to walk inside the shop to find clothes that are more expensive and better.