Microeconomics--Class discussion unit--1.docx

Microeconomics--Class discussion unit--1.docx - Hello...

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Hello everyone!! This week’s topic: The Wealth of Nations Defining ‘opportunity costs’ is the loss of potential gain from other alternatives when one alternative is chosen. (Google, 2018) 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 last two things that I purchased were two cars! I was in the market to purchase one car and I was intended upon only spending $1000, as this car was for my husband as he has lost the last four cars I have bought for one various reason or another. Actually, I was in the market to purchase two cars as I had been planning on upgrading my car three cars ago, but planned to wait on mine again till my taxes came. The car we went to go look at was a VOLVO S60 very nice, but he wanted $1200 I did not wish to
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