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Monique T

Home shopping goes high end - Jul. 19, 2011 - 2 views

  • white ones.
    • Lola Z
       
      Value of the white ones is the opportunity cost.
    • Lola Z
       
      Human wants are unlimited. Ladies always want more fancy jewelries. 
    • Lola Z
       
      Human wants are unlimited. Ladies always want more fancy jewelries. 
  • everyone wants to be at the party." 
    • Lola Z
       
      Once again, this shows that human wants are unlimited.
  • ...2 more annotations...
  • "The recession may be the best thing that happened to the home shopping networks because designers needed new outlets to offer more affordable prices," said Jack Plunkett, CEO of Plunkett Research.
  • By selling directly to the consumer, shopping channels eliminate the steep mark-ups taken at boutiques and department stores and offer more competitive pricing, said Plunkett.
    • Lola Z
       
      Opportunity cost for customers is that the convenience of going to shops to see the real goods and try them on.
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    Not only is there an opportunity cost for the designer, but the people spending this money on the jewelry have the opportunity cost for other large items - such as a vacation or new computer!
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    I commented on this article, and now on my screen above it says shared by Monique T... just to clarify, Lola posted the article, not me.
Desmond M

Is Junk Food Really Cheaper? - NYTimes.com - 1 views

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    This article demonstrates opportunity cost because it shows that eating healthy food costs less but most people prefer not to because of the inconvenience of cooking it.
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    This is a really neat way of looking at opportunity cost! It not only shows the opportunity cost of specific products, but how we as humans determine what's important, or what's the most important.
Desmond M

Operation Twist: Positive Impact On Banks With Big Mortgage Portfolios - Seeking Alpha - 0 views

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    This article demonstrates opportunity cost by saying that by selling short term treasuries, which will lower their price, and buying long term treasuries, which will raise their price, there will be benefits for banks with mortgages on their balance sheets.
Desmond M

Obama Tax Plan Would Ask More of Millionaires - NYTimes.com - 2 views

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    This article demonstrates opportunity cost because a rise in government revenues may lead to a shortfall in private sector investment.
Simon F

Opportunity Cost: The Concise Encyclopedia of Economics | Library of Economics and Liberty - 0 views

    • Simon F
       
      Very good and detailed definition of opportunity cost
Tim O

UK industry on the defence - 2 views

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    This video talks about how after the economic crisis a company located in England called BAE, the world's second largest military defense company who employs more than 40,000 people, talks about opportunity cost because of the resent cut backs in their contract. It talks about how England is trying to become more reliant on industry instead of finance. Lastly, it talks about the companies cuts from the government and job security because local governments have cut their spending with BAE, they are spending their money to invest into their own economy. Finally, I think it relates to scarcity because money itself is scare and government have to decide how to spend it efficiently.
Katrina D

The soul-destroying search for a family doctor - 2 views

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    This piece by The Globe and Mail outlines Canada's ongoing shortage of healthcare professionals, particularly family doctors. Although it doesn't address economics directly, this article applies to our topic because doctors are considered a 'service', and thus not having enough of them is a scarcity within Canada's economy. The author talks about how difficult it is to find a regular family doctor in her area. According to her, there are actual business dedicated to helping people locate doctors. At the end of the article, statistics reveal that this is a normal problem occuring in a large part of Canadians. There is actually also a major shortage of healthcare professionals in developing areas such as Africa, where there aren't even suitable medical locations in the case of an emergency. **By the way: I apologize for my lack of tags other than 'scarcity'... I accidentally posted the article before tagging anything else! **I fixed the tags... finally figured out how, woohoo!!
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    This is a great example of scarcity, and even opportunity cost. These doctors are somewhat of a luxury, and although they are a need, the scarcity makes them a reasonable want as well. Scarcity may have largely negative repercussions, yet there is an occasional positive outcome for some unit in an economy. It's certainly beneficial to the other businesses (helping to locate doctors) that have evolved from this problem, and those companies are profiting from a Nation's scarcity.
Katie Edwards

Social Security alternatives - The Fact Checker - The Washington Post - 0 views

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    This article talks about the ongoing Social Security debate happening in the U.S. federal government. Some state governments, such as Texas, form their own version of Social Security which has been confusing to the original plan. The trade-off illustrated here is "more you contribute, the more your savings will be." By contributing more money now, you will eventually make more money. However, many people don't want to give up lots of money now!
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