KristiStrout_Unit1Journal_BU204.docx

KristiStrout_Unit1Journal_BU204.docx - To me I believe...

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To me, I believe opportunity cost play a big role in everyone’s life. Unfortunately, as the old saying goes you can’t have your cake and eat it too. This saying is perfect for the definition of the opportunity cost because no one can have everything they want in life. An example of this is a mom such as myself, I would love to travel the world and see all the amazing places I have read about like Rome, Sicily, Chile and Tokyo but because I am a mom I cannot afford this due to the fact I have my children who need a roof over their heads, food in their bellies and clothes on their backs. I encounter scarcity both in my personal life and in my workplace. In my personal life due to the fact that my family currently lives with my mother, so we are scarce on the amount of space we have for our children. As well as privacy. I also encounter it in my workplace because as a teacher to 12-15-month old’s I am scarce on the amount of room I have for these kids to run their energy during the day. I also encounter scarcity at my workplace because where I live in
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  • Winter '15
  • Carmen
  • Economics terminology

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Christopher Reinemann
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