Microeconomics__Class discussion unit-1.docx

Microeconomics__Class discussion unit-1.docx - Topic The...

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Topic: The Wealth of Nations a. Think of the last two major things you bought. Why did you buy them? What were your opportunity costs in making the purchase? What would have been the opportunity cost, if you had NOT made the purchase? (Not all opportunity costs are measured in money.) My choice of two major purchases resulted from my resources were scarce. Resources pertaining to something to be used to produce something else. The resources I am referencing to be my marketable skills, and aging college credits. Resulted to be scarce as not enough skill and ability to satisfy all the ways a society wanted to use degree level employee’s. Specifically, my purchase is an investment. Recently, completion of Associate degree and Trade-specific specialized certifications. The second followed by same investment in higher education to broaden employment market and to satisfy societal level of completion of undergraduate education. The opportunity cost if I had not made these investments would had continued the denial of opportunity to compete in business as a professional.
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