I love economics
True or False:
Economics is about making choices?
True
What is true.
What is the difference between something you need and something you want?
What is necessary for survival?
What is something you desire?
Something you need is necessary for survival. Something you want is a desire.
What is scarcity?
What is shortage?
In short supply- shortage- not enough
What is the opportunity cost of having a Big Mac for lunch?
What is your health?
What is opportunity cost?
What is what you give up when you make a choice?
What you give up when you make a choice.
What is the opportunity cost of skipping class?
What is learning?
Passing the class
High school diploma
The market is insane! Cars are being sold even before they arrive to the lots. Why is this happening?
What is a shortage of computer chips?
There is a shortage of computer chips that results in a shortage of cars.
How are cars dealing with the computer chip shortage?
What is adapting to finding new ways to use less computer chips in cars?
What is the opportunity cost of going to college?
What is having free time?
Waking up late
Having free time
Saving your money
Sedique is required to bring a laptop to his creative writing class he is taking in college. He has been looking to buy a laptop and narrowed down his options to two. His first option is a gamer computer he found for $3000. He also found a less expensive option, a chromebook for $300. He will be using his computer to complete his assignments on google classroom and will be using google docs and google slides mostly. What does Sedique want? What does he need?
Sedique wants the gamer laptop but he only needs a basic laptop like a chromebook.