Opportunity Costs How a college education increases one's human capital It is a universal belief that a more educated workforce leads to an incredible human capital. Therefore, the thought of retaining higher educated graduates is important towards regions and cities maintaining competition among themselves. This eventually leads to technological and economic growth. While there has been a compilation of data from many regions and states in educational achievement, there also exist relentless

In the end, those new highways will be just as congested as the current ones. This option appears to fill the benefits of both the stadium and the education options, at least in the short run. The long-run benefits of more highways are questionable, whereas the long-run benefits of better education are not. The no new taxes option argues that by keeping taxes low. There are some perceived benefits of

Obviously, the concept of opportunity cost is very useful for making decisions (Mankiw, 2008) because at the end of the fiscal year, the person who chose to vacation for five days in Costa Rica would have $1,700 less in his or her bank account that the person who chose to stay home and work instead of going to Costa Rica. Without considering opportunity costs, a person could make the

Brick and mortar universities offer attractive networking opportunities for students that are not as easily utilized online. Of course, it might be argued by a dedicated University of Phoenix student that the experience of working while attending classes is just as valuable as being a member of a university lacrosse team, university newspaper, or debate team. Furthermore, the maturity and responsibility of juggling work and school can be beneficial, and

Some poor graduate students may decide that they have better things to do than clean. "Outsourcing household tasks meant they had to take on more debt, but they calculated -- correctly -- that spending an extra hour working on a paper was better for their lifetime expected earnings than spending that same hour vacuuming" (Rampell 1). And the more people avail themselves of such sources, quite frequently the greater

If your next-best alternative to seeing the movie is reading the book, then the opportunity cost of seeing the movie is the money spent and the pleasure you forgo by not reading the book. The word opportunity in opportunity cost is actually redundant. The cost of using something is already the value of the highest-valued alternative use. Nevertheless, as contract lawyers and airplane pilots know, redundancy can be a