af Lim Bryan 12 år siden
224
YOGHURT OR UNIVERSIY? PDG 03/12
The text discusses the various considerations and opportunity costs associated with setting up a yoghurt stall business. It highlights the potential losses if the business fails, such as the total loss of capital and the inability to find a well-paying job due to limited academic qualifications.
Åben
Yoghurt : Explaining S, C and OP Costs PDG 03/12
hi
Opportunity costs involved IF business fails, capital will be totally lost IF business fails, he will be unable to find a well-paying job as his academic qualifications : only up to A LEVEL If he wants a better job, he would have to enrol into a university for a degree or poly to obtain a diploma. WASTE TIME AND $!!!
Lesser time for other things
eg. Self, family, friends, social life Time used to research Time used to manage stall Time dedicated to establishing own business Will not obtain a Degree Unable to find a job that yields a higher salary IF own business fails. Can't experience lifestyle in Uni Choice made Yoghurt stall to be set up in AMK After this choice has been made, there will be opportunity costs involved Scarcity faced but when we make a choice, there are opportunity costs involved! therefore we can only choose to allocate our scarce resources to 1 of the choice. RESOURCES : MONEY, TIME and ENERGY hence, with limited resources for unlimited wants, SCARCITY is present These are ALL LIMITED Wants : UNI or OWN BUSINESS
