Microeconomics+__+Class__+__+discussion unit-+_+-1.docx

Microeconomics+__+Class__+__+discussion unit-+_+-1.docx - A...

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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.) The first major thing I bought was a car. I bought a 2016 Kia Optima last year. The car I was driving was old and started to have problems with the engine. This was costing me a lot of money for upkeep and causing me to worry about if I could make it work or not. The second purchase I made was moving to an apartment by myself rather than staying at home with my mom. I was able to have more freedom and not having to worry about anyone else’s schedules other than mine. The opportunity costs of the car and apartment was not only the money I would have saved on insurance, gas, rent, and food, but also the things I could do with that extra money. I could be spending it on a new wardrobe or going out downtown with friends every weekend. B. Did those selling them to you provide the goods because they cared about your needs?
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