Econ 1
Read the articles. These articles contain examples of calculating opportunity costs. You will follow these examples to answer one of the questions listed at the bottom of the topic.
1) 1) The opportunity cost of buying iPhones and Cronuts
By Ben Walsh, September 2013
http://blogs.reuters.com/ben-walsh/2013/09/20/the-opportunity-cost-of-buying-iphones-and-cronuts/
2) The potential economic costs of Tropical Storm Harvey: Explained
by Nathaniel Meyersohn, August 26, 2017
http://money.cnn.com/2017/08/25/news/harvey-costs/index.html
3) Unpaid internships offer valuable experience, but only for those who can afford it.
http://chicagomaroon.com/2012/04/13/opportunity-cost/ by Dillon Cory – Apr 13, 2012
4) 8 Chores That Aren’t Worth Your Time (So Outsource Them!)
https://www.aol.com/article/finance/2014/06/16/chores-not-worth-your-time-outsource-them/20912544/ by Hank Coleman – June 16, 2014
5) Paying for Health care with time
6) It Costs You $43 to Sit Around the Doctor’s Waiting Room
http://time.com/money/4063039/time-money-doctor-visit-healthcare/
7) What is the Value of Exercise? 2,500 by Gretchen Reyholds, Sep 7, 2016.
8) Listen Planet-Money:
Episode 386: Cost of Free Doughnuts
https://www.npr.org/2020/01/08/794592539/episode-386-the-cost-of-free-doughnuts
What are your opportunity costs of going to college? Calculate (in $$$) your opportunity costs of going to college.
Discuss the opportunity costs of natural disasters. Create your own example of the opportunity costs of natural disaster. Calculate (in $$$) opportunity costs of natural disaster.
Discuss the opportunity costs of your visiting the doctor’s office. Calculate (in $$$) your opportunity costs of your visiting the doctor’s office.