Scarcity and opportunity cost.
- In your own words, describe how opportunity cost is used in decision making?
- Why is it important to think about what is forgone when decisions are made?
- Write an example of a decision that you made recently where you had to think about the opportunity cost
Requirements for Paper:
- Must be in APA format. (Be sure to include a separate title and reference page, an introduction, subheadings, and a conclusion).
- The requirements for this assignment are 1 to 2 pages in length (not including title and reference pages), double spaced, 12-point Times New Roman font, 1-inch margins, and discipline-appropriate citations.
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