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 research studies showing the impact universities and collage have (Frank, 2005).

A study by New York federal bank published in their Economic Geography journal in 2011 demonstrates that universities and colleges increase Human Capital in their regions. Utilizes educations Department data as from 1999 down to 2000 and also 2006 shows the magnitude of volume of college degrees attained in metropolitan regions. It also makes use of survey by American Community's data in estimating levels of human capital (Frank, 2005).

Because of…...

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Reference

Frank, R.H. (2005). The Opportunity Costs of Economics Education. The New York Times. Retrieved February 18, 2011 from:

 http://www.nytimes.com/2005/09/01/business/01scene.html

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 this -- for example lower taxes attracting business and investment. It is questionable the degree to which a temporary half-cent sales tax increase would hurt business investment, however. In addition, the opportunity costs of two major long-term infrastructure projects in education and transportation should be considered. Economic growth throughout the world has been predicated on the provision of infrastructure such as improved transportation and education. It is not reasonable to assume that future investments need not be made. An inadequate…...

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 is something that more traditional university students must sacrifice. University of Phoenix students can still discuss their course matter online with students and faculty, and may be better able to see the relevance of learning in the real world, since they are a part of that world as workers. Furthermore, students can spend more time with their families while attending school.

Merit-based aid to attend a university clearly seems to be an example of an 'efficient' market -- the best student…...

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References

Henderson, David. (2009). Opportunity cost. The Concise Encyclopedia of Economics.

Retrieved October 31, 2009 at  http://www.econlib.org /library/Enc/OpportunityCost.html

The cost of your online degree. (2009). Votech. Retrieved October 31, 2009 at  http://www.votechdirect.com/the-cost-of-your-online-degree.html

Human Capital - Opportunity Cost
"Human Capital." Gary S. ecker. Human Capital. 1975. The Library of Economics and Liberty web site: (http://www.econlib.org/library/Enc/HumanCapital.html).

Purpose of Article: Gary ecker's article establishes that investment in human capital through education and training leads to increases in the standard of living and overall productivity of both the economy and the individual.

At the individual level, ecker uses the concept of opportunity cost to analyse the trends in higher education among various segments of society and at the macro level, ecker establishes the benefits of investing in human capital.

Economic Concepts Discussed: There are a whole range of economic concepts implicit in "Human Capital": human capital as an important resource, opportunity cost, cost-benefit analysis, long run cost, the 'creation of wealth,' subsidy, and wage discrimination.

The principal concept in "Human Capital" is the importance of an educated workforce in economic growth in creating increases in productivity through specialization of labor and…...

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Bibliography

Becker, Gary S. "Human Capital." Human Capital. 1975. The Library of Economics and Liberty web site: ( http://www.econlib.org /library/Enc/HumanCapital.html).

McCain III, Roger Ashton. Essential Principles of Economics: A Hypermedia Text. Chapter 1.iii. (http://william-king.www.drexel.edu/top/prin/txt/EcoToC.html)

Smith Adam. Wealth of Nations. Modern Library edition. p11.

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 the proliferation of outsourcing entities and hence a subsequent downward pressure on price in a competitive market like cleaning services. The downturn in the economy has also generated many more people looking for part or full-time work doing 'odd jobs' (Rampell 2). This lowers the opportunity cost of money spent on outsourcing.
On an individual basis, outsourcing can also make time for more leisure. For example, a working mother can outsource housework to spend more time at the gym or playing…...

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 virtue. In this case, its virtue is to remind us that the cost of using a resource arises from the value of what it could be used for instead. (Henderson, 2002)
Opportunity costs refer to the costs associated with giving up an opportunity. They are relevant in the marketing of digital products when one considers the value lost to the company when giving away a product free. Since digital goods primarily consist of fixed costs and often have zero marginal costs…...

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References

Henderson, D.R. (2002). Opportunity Cost. The Concise Encyclopedia of Economics,. Retrieved 12/2/07, at  http://www.econlib.org 

Pietersz, G. (2007). Sunk Cost. Money Terms, p.1. Retrieved 12/02/07, at  http://moneyterms.co.uk/sunk-costs/ 

Staff, (2004). Sunk Cost Definition.,. Retrieved 12/02/07, at  http://learnthat.com 

Staff, (2004). Opportunity Costs Definitions. Retrieved 12/02/07, at

The relationship typically is that a decrease in supply will result in an increase in price. In this case, there is a rational explanation for the decrease in prices at the same time as the decrease in supply. New housing starts are a lagging indicator. Housing prices will typically begin to fall before new housing starts. Therefore, the two can fall at the same time, but the relationship is not as implied in the true or false proposition.
3. a) a blight killing off the Brazilian crop would result in a decrease in global coffee supply. Demand would remain unchanged. Therefore, coffee would be subject to an increase in price.

A b) a change in the price of tea may or may not impact the global coffee market. In some markets, they are substitutes but in many countries consumption is dominated by one or the other.

Thus, there is little correlation between…...

Managerial Economics
The concept of opportunity cost reflects that when an asset is used, that asset cannot be used for something else. So if she chooses to buy a new car, the resources used to make that purchase cannot be utilized anywhere else. This is particularly important when resources are scarce. In her case, she needs to think about what the decision is. Is the choice between a new car and a used one? Is it a choice between living in an outer suburb with lower rent and a new car, or a hip inner city neighborhood with higher rent and no new car? A new car usually represents some sort of trade-off, and Stella needs to think about what those trade-offs are before committing to this purchase.

The table of total costs is as follows:

Method

Drivers

Cost

Machines

Cost

Total Cost

Driver cost

Machine cost

This shows that the method with the lowest total cost is method #2.

From an…...

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References

BIS (2015). Pricing your product or service. Business Info. Retrieved November 14, 2015 from  https://www.nibusinessinfo.co.uk/content/covering-fixed-and-variable-costs 

Investopedia (2015). Opportunity cost. Investopedia. Retrieved November 14, 2015 from  http://www.investopedia.com/terms/o/opportunitycost.asp 

Langevoort, D. (2002). The organizational psychology of hyper-competition: Corporate irresponsibility and the lessons of Enron. Georgetown University Law Center. Retrieved November 14, 2015 from  http://scholarship.law.georgetown.edu/cgi/viewcontent.cgi?article=1142&context=facpub 

Net Market Share.com (2015). Desktop operating system market share. Net Market Share.com. Retrieved November 14, 2015 from  https://www.netmarketshare.com/operating-system-market-share.aspx?qprid=10&qpcustomd=0

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 ica 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 ica. Without considering opportunity costs, a person could make the mistake of considering only the actual cost of the Costa ico trip and never realize that the decision would actually cost an additional $1,000 compared to the alternative choice being considered.
eference

Mankiw, N.G. (2008).…...

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Reference

Mankiw, N.G. (2008). Principles of Economics. Chula Vista, CA: South-Western

Joint costing systems should bear in mind the legal constraints on the use of such systems, and should provide accurate information to managers in order to be most useful in the managerial accounting context.
Firms need to remain competitive, which indicates that the market will set prices to some degree. This implies that firms can make better decisions with respect to what projects/products they wish to pursue by understanding the cost structure of the product. If the product is not viable at the cost at which it can be produced, then the firm can improve profitability by dumping the product.

orks Cited:

Banham, R. (2000). Off target? CFO Magazine. Retrieved April 5, 2011 from http://www.cfo.com/article.cfm/2990860/c_3046531?f=magazine_alsoinside

Frederick, S. (2011).

The persuasive power of opportunity costs. Harvard Business Review. Retrieved April 5, 2011 from http://hbr.org/2011/01/column-the-persuasive-power-of-opportunity-costs/ar/1

Katz, D. (2002). Activity-based costing (ABC). CFO Magazine. Retrieved April 5, 2011 from http://www.cfo.com/article.cfm/3007694

McKinsey & Co. (2004). Pricing new products. CFO Magazine.…...

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Works Cited:

Banham, R. (2000). Off target? CFO Magazine. Retrieved April 5, 2011 from  http://www.cfo.com/article.cfm/2990860/c_3046531?f=magazine_alsoinside 

Frederick, S. (2011).

The persuasive power of opportunity costs. Harvard Business Review. Retrieved April 5, 2011 from  http://hbr.org/2011/01/column-the-persuasive-power-of-opportunity-costs/ar/1 

Katz, D. (2002). Activity-based costing (ABC). CFO Magazine. Retrieved April 5, 2011 from  http://www.cfo.com/article.cfm/3007694

Opportunities to Improve elationship Banking at Al ajhi Bank
In an increasingly globalized and competitive marketplace, many banking professionals today are faced with the need to develop informed and timely responses to changes in consumer demand, as well as fluctuations in the global economy that can have a positive or negative effect on investments. In affluent nations, this need has become especially pronounced as billion-dollar deals are routinely involved, and bankers working relationship banking operations stand to assist banks in attracting and retaining wealthy private and highly fluid commercial enterprises as long-term clientele. The enormous amounts of money that are involved make it important to formulate such responses in ways that add value to the banking operation including providing a competitive advantage. In some banks, relationship banking at this level is termed "privilege banking" or "prime account management," but the common feature of these business units is targeting high net…...

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References

About Us. (2012). Al Rajhi Bank. Retrieved from http://www.alrajhibank.com.my/corporate_

about_al_rajhi.shtml.

Constantinides, G.M., Harris, M. & Stulz, R.M. (2003). Handbook of the economics of finance.

Boston: Elsevier/North-Holland.

moves any sort of raw material, products or shipments in general, the subject of logistics is a very important one. Whether one is speaking of forward logistics or reverse logistics, there should be a fairly constant amount of cost/benefit analysis used and harnessed so as to maximize profit and logistical capacity. Indeed, there is almost always more than one way to do something form a logistical standpoint but the benefits of each method as well as the costs should always be assessed to make sure the proper method is used. Both cost and benefits need to be taken into full account because both matter a great deal.
Logistics Cost/Benefit

Some people might be confused by forward logistics as compared to reverse logistics. However, the subjects are actually fairly easy to absorb and interpret with the proper definition. Products and materials, even if slightly compromised, typically retain their value even if they…...

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References

Choudhary, A., Sarkar, S., Settur, S., & Tiwari, M. (2015). A carbon market sensitive optimization model for integrated forward -- reverse logistics. International Journal Of Production Economics, 164433-444. doi:10.1016/j.ijpe.2014.08.015

Hatefi, S., Jolai, F., Torabi, S., & Tavakkoli-Moghaddam, R. (2015). A credibility-constrained programming for reliable forward -- reverse logistics network design under uncertainty and facility disruptions. International Journal Of Computer Integrated Manufacturing, 28(6),

664-678.

Kim, T., Goyal, S., & Kim, C. (2013). Lot-streaming policy for forward-reverse logistics with recovery capacity investment. International Journal Of Advanced Manufacturing

Dibsa should turn towards the market-based pricing strategy, which sees the implementation of competitive prices for the 3-in-1 Lawnmower. The selection of this combination of strategies would generate several impacts upon the company, but most of them would be obvious at product lifecycle level. In this order of ideas:
The sales revenues would be significantly high throughout the first six months and they would allow the company to cover for the large costs incurred in the manufacturing of the product as well as register profits; they would however decrease with the implementation of the market pricing strategy and the 3-in-1 Lawnmower would metamorphose from a star product into a cash cow

The costs incurred in the manufacturing of the new lawnmower have already begun to decrease and will continue to do so; the actual impact of the pricing strategy is limited, with the specification however that these costs will not be…...

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References:

Berman, K., Knight, J., Case, J., 2006, Financial Intelligence: A Manager's Guide to Knowing what the Numbers Really Mean, Harvard Business Press

Bolander, S.F., Gooding, C.W., Mister, W.G., 1999, Transfer Pricing Strategies and Lot Sizing Decisions, Journal of Managerial Issues, Vol. 11

Drudy, C., 2004, Management and Cost Accounting, 6th Edition, Cengage Learning EMEA

Goetz, Jr., J.F., 1985, the Pricing Decision: A Service Industry's Experience, Journal of Small Business Management, Vol. 23

On the other hand, the strategic implementation occurs once the project is actually started. The challenges that a manager faces at this point are numerous, mainly due to the fact that while the strategic planning was a theoretical, probabilistic evaluation on things that had not occurred, the implementation phase will bring about real challenges, to which the manager must find solutions. The leader needs to be able to react to real-time event, many of which may be unexpected and not identified in the strategic planning phase.

Project management principles are important because they provide a theoretical background for implementing and planning a project, which could be helpful in terms of determining the success of a project. They will not provide a recipe for success, but will be a good starting point in the lifetime of a project.

3. If successful, the opportunities of implementing its new strategy are important. First of all,…...

" (2000) There are other factors associated with change that enhance the ability for the independent hotels to compete as there is a segment of customers with the desire to discover for themselves what best satisfies their taste. The independent hotels offer guests "the option of maintaining their differentiation while affiliating with 'soft' brands, which reflect a defined product and offer similar service support as franchisers or chains." (Swig, 2000) Swig additionally reports that Rob Cornell of Preferred Hotels believes that "global distribution brands have evolved today to provide the independent hotel owner; manager access to the latest in reservation distribution and marketing technology, partner relationships, quality stands, volume purchasing and sales infrastructure. " (2000) Technology is said to be the "new vehicle" that enables equal access..." (Swig, 2000) Finally, Swig states that "membership or affiliate organizations have matured and gained credibility with consumers. At the same time these groups…...

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Bibliography & References

Hotel Augustin: Bergen, Norway (2007) (2007) Scandinavian Travel Specialists Since 1967 Online available at http://www.scantours.com/augustin_hotel.htm.

Augustin Hotel - C. Sundts Gate, Bergen, Norway (2007) hotelgenie.com located online available at http://www.hotelgenie.com/bergen/augustin.shtml.

Swig, Rick (2000) Independent Hotels: The New Brand Alternative. RSBA & Associates: Hospitality Consulting Services. Ideas and Trends. June 2000.

Verret, Carol (2005) Independent Hotels & Resorts: Ride the Wave or Float with the Tide. Carol Verret Consulting and Training. Ideas and Trends Hotel Online. 2005 March. Online available at  http://www.hotel-online.com/News/PR2005_1st/Mar05_RisingTide.html .

I. Introduction

Hook: Begin with a compelling statistic, anecdote, or provocative statement that captures the attention of the reader.
Thesis Statement: Clearly state the main argument that will be supported in the essay: "High school sports are detrimental to students' overall well-being and should be eliminated."

II. Body Paragraph 1: Physical Impact

Discuss the physical risks associated with high school sports, such as concussions, joint injuries, and muscle strains.
Provide evidence from medical studies or research articles to support the claims.
Explain how these injuries can have long-term consequences, such as chronic pain, disability, or even death.

III. Body Paragraph 2: Academic....

1. The impact of supply and demand on interest rates in HSBC Bank
2. The role of elasticity in determining pricing strategies in HSBC Bank
3. The concept of opportunity cost in investment decisions at HSBC Bank
4. The influence of market structure on competition and pricing in HSBC Bank
5. The effects of government regulation on the banking industry and HSBC Bank specifically
6. The relationship between marginal utility and consumer behavior in the banking sector, with a focus on HSBC Bank
7. The concept of economies of scale and how it applies to HSBC Bank's operations and growth strategies
8. The principles of cost-benefit analysis....

I. Introduction

1. Scarcity as a fundamental economic challenge

   1. Limited resources vs. unlimited wants
   2. Necessity of making choices

2. Resource allocation and decision-making

   1. Allocation of scarce resources
   2. Influence on decision-making processes

II. Body

1. Impact of scarcity on resource allocation

   1. Competition for resources
   2. Prioritization of needs

2. Role of scarcity in decision-making

   1. Trade-offs in decision-making
   2. Opportunity costs

3. Incentives and efficiency in resource utilization

   1. Market mechanisms
   2. Efficient resource allocation

III. Conclusion

1. Implications of scarcity on economic systems
   ....

I. Introduction

1. Understanding Scarcity
   
   

   1. Definition and Characteristics
   
   
   2. Consequences of Scarcity: Limitations on Resource Availability

2. Impact on Economic Decision-Making
   
   

   1. Trade-offs and Opportunity Costs
   
   
   2. Pricing Mechanisms and Market Allocation

II. Body

1. Resource Allocation in Markets
   
   

   1. Consumer Demand and Supply
   
   
   2. Equilibrium and Efficiency

2. Government Intervention
   
   

   1. Subsidies, Taxes, and Price Controls
   
   
   2. Public Provision of Goods

3. Environmental Considerations