opportunity cost
Provide your own definition of "opportunity cost". Discuss what the opportunity cost of attending college is for you, noting that the concepts of opportunity
costs and explicit monetary costs are not the same.
Sample Solution
Opportunity cost is defined as the cost of a missed opportunity that arises when an individual or organization chooses one option over another. This means that in order to make a decision, it is necessary to consider both the potential benefits and drawbacks of each choice. For example, if someone were deciding between two investments with different returns on investment (ROI), they would be faced with an opportunity cost - either taking one investment and missing out on the other or vice versa.
Coming from this definition , attending college has many associated opportunity costs for me . For instance , by choosing t o pursue higher education I am sacrificing time spent at home with my family or engaging in recreational activities such as sports or music . Additionally , there are also financial opportunities associated with not attending college ; such as being able t o start working immediately after high school and earning income which could go towards saving up for things like a car or house deposit . Moreover , there is even the chance of starting one’s own business without having t o deal with student debt while still young enough t o take risks without too much consequence.
At the same time however , attending college also has its own set of advantages that come wit h its associated opportunity costs ; such as gaining access to specialized knowledge and skills through career-oriented courses which can often lead directly into long-term job prospects . Furthermore , investing i n oneself via higher education can often result in increased employability due t o employers perceiving graduates who have spent additional years studying as more competent than those without these qualifications . Overall then , although there are indeed certain “opportunity costs” involved when considering whether or not to attend college, ultimately it will depend on what path best suits each individual’s needs and goals.
understudies. Given the expected worth of such figures propelling scholastic achievement and hence impacting results like maintenance, wearing down, and graduation rates, research is justified as it might give understanding into non-mental techniques that could be of possible benefit to this populace (Lamm, 2000) . Part I: INTRODUCTION TO THE STUDY Introduction The country is encountering a basic lack of medical care suppliers, a deficiency that is supposed to increment in the following five years, similarly as the biggest populace in our country's set of experiences arrives at the age when expanded clinical consideration is essential (Pike, 2002). Staffing of emergency clinics, centers, and nursing homes is more basic than any time in recent memory as the enormous quantities of 'people born after WW2's start to understand the requirement for more continuous clinical mediation and long haul care. Interest in turning into a medical caretaker has disappeared as of late, presumably because of the historical bac