Economics opportunity cost
One of the first lessons you will learn in Economics is that in order to do something, or buy something, it often means you cannot do or have something else. Life is full of choices and tradeoffs: “You cannot have your cake and eat it too,” or ” There is no such thing as a free lunch.” What is this course costing you? What is your opportunity cost to take this course? As an introductory assignment, answer each of these in the Discussions.
1) Write about what you could be doing instead of taking this course. It could be something else right at this minute. It could be going on vacation (or buying gas) with the tuition and book money, or it could be another class that conflicted with this, and
(2) Describe a choice you have had to make recently that involved make a choice between 2 alternatives not involving this course, and which way you decided to go. This could be going out to dine or buying gas, buying food rather than new clothes, or even a career change.
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