loveme123 01.03 Why Can’t I Have It All

Why should I study for my upcoming Medical Terminology Test? Costs | Benefits | Sleep time is less (short-term) | Better GPA (long-term) | Less usage of my electronics (short-term) | Be more focused on this test and other to come (long-term) | Less time spent with friends (short-term) | Learned something that will better my future career in the medical field. (long-term) |

1.Explain how the concepts of scarcity, choice, and opportunity cost relate to your dilemma. ◘ Having the drive to want to study is what will take you far. As we all know time is a scarce resource. We want more, but have to do it a limited TIME frame, and scarcity is just that, limited resources. This forces us to make choices, choices that we might not want to make, but have to. Opportunity cost is the most valued alternative, meaning giving up something you want to do but can’t really do. In my case that would be studying instead of pointless time wasting on things that could be dealt with later on in the week. It’s better to chose a goal that will really benefit you in the long run. 2. When making a decision, are the costs and benefits equally important to you? Why or why not. Based on your chart, explain which category, costs or benefits, would have the largest impact on your decision?

◘ When making a decision I would say that the cost and benefits are not equally important. Why not, because I feel the benefits are the positive effect of the cost. To me the benefit category would have the largest impact on my decision. I want positive results from what I gave up for it. In my dilemma, studying is my number one priority right now for my grade’s. I need good grades, because good grade lead you into an awesome college, then into a bright