Podcast
Questions and Answers
What is the opportunity cost of choosing to see the movie?
What is the opportunity cost of choosing to see the movie?
a. the economics club event you missed, and the time spent not studying for the exam.
In the context of the options for Friday night, what is the opportunity cost of choosing to see the movie?
In the context of the options for Friday night, what is the opportunity cost of choosing to see the movie?
a. the economics club event you missed, and the time spent not studying for the exam.
Why do people watch more movies during an economic downturn?
Why do people watch more movies during an economic downturn?
During tough economic times, people seek affordable entertainment options like movies.
What is considered as an opportunity cost of attending school?
What is considered as an opportunity cost of attending school?
Why is the $24,000 spent on apartment and food not considered an opportunity cost of attending school?
Why is the $24,000 spent on apartment and food not considered an opportunity cost of attending school?
Why is the $70,000 salary forgone by not working considered an opportunity cost?
Why is the $70,000 salary forgone by not working considered an opportunity cost?
Why is not all 10 hours of study time considered an opportunity cost?
Why is not all 10 hours of study time considered an opportunity cost?
What is the key definition of opportunity cost?
What is the key definition of opportunity cost?
Why is it important to consider opportunity cost?
Why is it important to consider opportunity cost?
In the scenario provided, what was the ranking of options to spend the one-hour break between classes?
In the scenario provided, what was the ranking of options to spend the one-hour break between classes?
If you chose to work on homework during the one-hour break, what was the opportunity cost of your choice?
If you chose to work on homework during the one-hour break, what was the opportunity cost of your choice?
How can opportunity cost help in decision-making?
How can opportunity cost help in decision-making?
What does the scenario of the one-hour break illustrate about opportunity cost?
What does the scenario of the one-hour break illustrate about opportunity cost?
How does the limited time available for studying economics affect the time available for studying psychology?
How does the limited time available for studying economics affect the time available for studying psychology?
How does having only one oven affect the preparation of dinner?
How does having only one oven affect the preparation of dinner?
How does Microsoft hiring the most talented software engineers in Toronto affect other tech companies in the area?
How does Microsoft hiring the most talented software engineers in Toronto affect other tech companies in the area?
How does your friends' choice of buying iPhones influence your decision to buy one?
How does your friends' choice of buying iPhones influence your decision to buy one?
How do declining interest rates in the credit market affect the decision to buy a home?
How do declining interest rates in the credit market affect the decision to buy a home?
How does the availability of high-quality, low-cost child care options influence the decision to join the labor market?
How does the availability of high-quality, low-cost child care options influence the decision to join the labor market?
What principle is concerned with evaluating whether benefits outweigh costs?
What principle is concerned with evaluating whether benefits outweigh costs?
What principle emphasizes the importance of considering the next best alternative when making a decision?
What principle emphasizes the importance of considering the next best alternative when making a decision?
How do decisions made today impact future opportunities and choices?
How do decisions made today impact future opportunities and choices?
Why is it important to consider the Marginal Principle in decision-making?
Why is it important to consider the Marginal Principle in decision-making?
What factors should be considered when deciding whether to go to grad school and get an MBA?
What factors should be considered when deciding whether to go to grad school and get an MBA?
