opportunity cost assignment

docx

School

CUNY Hunter College *

*We aren’t endorsed by this school

Course

6045

Subject

Economics

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by cobenak

What is your opportunity cost of taking this course at Berkeley College? How does the role of scarcity influence decisions that you have to make?  Apply appropriate examples that illustrate your points - feel free to bring your workplace experiences into the discussion. It helps us all learn when we can relate our past workplace experiences to what we're learning here in the discussions. My opportunity cost in taking this course at Berkeley is losing my “me time”. I am a mother of two toddlers who take up majority of my time. When I am not working my 9-5 I am using that little bit of time to spend with my kids and once they are in bed I have my “me time” which includes watching tv, relaxing, or just enjoying my peace. Now that I have enrolled in some courses such as this one, that time is now being taken for studying and working on assignments. As stated in the concept clip for Principle 2, opportunity cost is not just money, it can be time which is what applies to myself. The role of scarcity influences decisions that I make because at this moment, I cannot attain the highest standard of living to which I might aspire. For example, at this point in my life I would have thought that I would be making more money at my workplace due to my experience. According to the company I do not have enough “resources” such as a bachelor’s degree to obtain the amount of money I would like to be making. Therefore, I have decided to get back into school because many companies believe a bachelor’s degree would be a good resource.

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opportunity cost assignment

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