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Opportunity Cost…

HW #1: Come up with three examples of opportunity cost and list them here.

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  1. Robert A.
    March 8, 2010 at 11:44 pm

    1. Missing the baseball game to study for exam tomorrow. Studying cost me the game.
    2. Getting grounded and missing the concert. Grounded cost me the concert.
    3. Want to buy a game but have to buy a book for school. The book cost me my game.

  2. March 8, 2010 at 10:01 pm

    Any time that you spend money, use resources, or provide your labor you make economic decisions – basically just about everything is an economic decision or can be analyzed in terms of economics.

    Yesterday I chose to ride my bike to work. The opportunity cost of this decision was the little bit of work I usually get done while riding the train to work but I got my workout out of the way. This was an economic decision because it involved allocation of my limited time resources.

    Instead of going out to lunch I brought my lunch from home. The opportunity cost of doing this was missing the informal meeting that usually takes place when my coworkers and I go out to lunch. Obviously the opportunity cost of bringing my lunch was much lower than the actual savings I realized by bringing my lunch.

  3. Valeria Rivas
    March 2, 2010 at 7:38 pm

    1.If I decide to go to my friend’s party instead of go to church My opportunity cost was not going to church.
    2.If I bought an eyeliner instead of a pencil my opportunity cost was not buying the pencil.
    3.If I decide to do Ms. Sued essay instead of doing my math Homework

  4. Wendy.S
    March 2, 2010 at 6:46 pm

    1.giving up your favourite movie to study (inorder to get good grades). The oppurtunity cost is the movie that has been forgone.
    2. buying a new ipod instead of using my old ipod, buying a new ipod is the opportunity cost of my old ipod
    3.eating a pizza instead of a salad, the opportunity cost is the salad.

  5. nicole p
    March 2, 2010 at 5:44 pm

    1) if i decided to stay here in NewYork insted of going to bogota colombia my oportunity cost will be going to a school in manhathan
    2)if i decide to follow my dream of becoming an actriz instade of sitting and waiting for something to happend my opportunyti cost will be becoming an actriz
    3)if i go and look for a job that is going to take my homowork hour my cost will be low grades

  6. March 2, 2010 at 9:52 am

    Graded until this point

  7. Andres B.
    February 25, 2010 at 3:51 pm

    1.if i watch disney channel instead of nickelodean my oppurtunity cost was not watchin disney channel.

    2.if i buy a bigmac over a quarter pound the oppurtunity cost was choosing the bigmac over the quarte pound.

    3.choosing to do drugs over not to stay home the oppurtunity cost was not stayin home.

  8. Connie C.
    February 23, 2010 at 9:32 pm

    Opportunity Cost examples:
    1. I get a job at the new mall, what do i give up to go to work? There are many possibilities. I could sleep in. If it is a nice day I could take my turtle to the park and play all day. Or, I could even spend the day looking for a better job!.

    2. If i win 200,000 and spend it in a car and the stock market, what i lose is the interest that i could have accrued by leaving the $200,000 in a bank account instead, or buying a house which can rise its value in a few more years

    3. i got 50 dollars for staying home the whole day, by me accepting the award i lost a day of my life in which i could of had hang out with my best friends or boyfriend go party or anything including many things at once

  9. Lazaro F.
    February 22, 2010 at 11:39 pm

    1) If I want to go to Bangkok, Thailand but instead I go to Holland, then the opportunity cost will be the trip to Thailand.

    2) If I want to buy a Microsoft computer but instead I buy an apple computer, then the apple computer is going to cost me the Microsoft computer.

    3) If I have a test tomorrow but instead of studying I decide to use the computer, then the opportunity cost will be not studying for the test and getting a low grade.

  10. Santiago I
    February 22, 2010 at 11:01 am

    1) If I want to buy a new jacket but I buy a pair of sneakers, the cost of my decision will be the non-buyin of the jacket.
    2) If I have detention but I dont go, the cost (punishment) will be suspension.
    3) If I have three homeworks but I do just 1 out of 3, the cost will be low grades in my report card.

  11. Danelly R.
    February 21, 2010 at 8:37 pm

    1. Giving up studying to watch a movie , The cost is failing the test
    2. Spending thousands of dollars for a sweet 16 for just one night to enjoy than buying a car instead, the oppurtunity cost is the car.
    3. Not going to college because of having a good paying job and high salary, the opportunity cost is going to college have a proffesion and an even better paying job and higher salary.

  12. Joseph Campbell
    February 21, 2010 at 12:26 pm

    1. if i want to buy a pea coat and instead of buying the coat i buy shirts the shirts is what cost me the coat.

    2. if i wanted to hangout with my friends but my mom wants me home, then staying home is what cost me hanging out with my friends.

    3. if i have a certain amount of money anh i have to pay one of two bills paying one will cost me the other one.

    • Joseph Campbell
      February 21, 2010 at 12:27 pm

      and**

  13. Marisol.F
    February 17, 2010 at 1:56 am

    1: choosing to lend my brother money for him to buy spray cans instead of lending my sister money to buy books is gonna be the opportunity cost of me doing something productive and lending my sister money for her books.

    2: choosing to buy a sandwich over a pizza is going to be the opportunity cost over getting that pizza.

    3: choosing to buy a sweater instead of a rain coat is going to be the opportunity cost of me getting that rain coat on a rainy day.

  14. jisselle gonzalez
    February 16, 2010 at 10:35 am

    1.if i want to buy an outfit for 20 dollars and instead i buy shoes the shoes cost me the outfit.

    2.if i have 1,000 dollars and i want to get 2 coach bags instead of going on 5 day vacation…the bag is going to cost me the vacation.

    3.if i have an essay to do for monday and it is sunday and there is a party that i go to instead, the party is going to cost me the time i would of had to do that essay.

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