Sure! Here are simple definitions for each term:
1. **Trade-off**: Giving up one thing to get something else.
2. **Consequences**: The results or effects of an action.
3. **Adam Smith**: An economist known as the father of economics, famous for his ideas on free markets.
4. **Invisible Hand Theory**: The idea that individuals seeking their own benefits can positively affect society as a whole.
5. **Marginal utility**: The extra