Assignment2 - Chapter3

Assignment2 - Chapter3 - 2. The opportunity cost lies in...

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eThemes of the Times Article:  Sharp Labor Shortage in China May Lead to World Trade Shift   Questions:   1. What are the factors that have slowed the migration of workers who once flooded the booming  coastal provinces of China in search of unskilled factory work?  2. How can you relate this slow labor migration phenomenon to the concept of opportunity cost?  3. Do you think that the article shows increasing opportunity cost of providing more and more factory  goods?  Answers: 1. The factors that have slowed the migration of workers include: the one-child policy, greater desire for college education, and a desire to earn a greater income.
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Unformatted text preview: 2. The opportunity cost lies in the hands of the children. Each child has two choices: spending time and money towards a college education/degree or working immediately after preliminary schooling. The article points out that Chinese colleges and universities enrolled over 14 million students, up from about 4.3 million in 1999. Therefore, the childrens decision to enhance their education in order to obtain a better job has a direct correlation to the slow labor migration phenomenon. 3. No. The article shows a decreasing opportunity cost of providing more and more factory goods....
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