Senior Seminar is a required component for graduation here at Ridley High School. The purpose of the course is to introduce the seniors to current issues, economic concepts, domestic policy, and foreign policy decisions made by the United States government. The knowledge of these areas will hopefully make each student a more knowledgeable voter and citizen of our community.
opportunity cost is the decision on what to give up to get something in return. It is not always a number but the next best alternative for a choice to be made. For an example, the decision is either to call out of work and go to a party that your friend is having or be responsible and go to work to make the money that you will be earned and also not to be fired. obviously you would choose the best thing which is going to work. Another example is when you so desperately want to go to the Flyers playoff game but you know it is very expensive for a ticket. You are giving up a large sum of your money for a playoff ticket. Since that is something you want, you would be willing to do so.
opportunity cost is the decision on what to give up to get something in return. It is not always a number but the next best alternative for a choice to be made.
ReplyDeleteFor an example, the decision is either to call out of work and go to a party that your friend is having or be responsible and go to work to make the money that you will be earned and also not to be fired. obviously you would choose the best thing which is going to work.
Another example is when you so desperately want to go to the Flyers playoff game but you know it is very expensive for a ticket. You are giving up a large sum of your money for a playoff ticket. Since that is something you want, you would be willing to do so.