Opportunity Cost

Problems have plagued the manufacturer even after two fatal crashes, and many current and former employees blame its focus on making planes more quickly.

According to science, for every action there is an equal and opposite reaction. Is that also true in our economy? When policymakers and other leaders are faced with decisions, it's often easy to think something along the lines of "just do something!" But when policy is enacted to help achieve a certain outcome, it's possible that there might be unintended consequences. This interactive game from Marginal Revolution University will demonstrate to students when taking action to solve a problem, you also have to think about what ripple effect that action might have.

Cutting in front of someone who’s been waiting patiently in line used to be unethical, bad manners, taboo. Now, businesses are letting people pay for the privilege of skipping the line.

How much does Taylor Swift value her time? It’s an important question with real-world ramifications.

If you don't already have a ticket to one of Taylor Swift's Eras Tour performances in Seattle this weekend, you may be out of luck. Do this instead.

Is a healthy Buxton -- without his glove -- more valuable than risking injury with him in the outfield? So far, Minnesota is betting on it.

Oof, family vacation off to a bad start? It’s probably because you’re trying to save money during your trip, because you spent too much planning your trip. A...

The massive post-pandemic price burst has harmed Americans’ ability to take the prudent financial steps that could set them up for success in the long run.

Some people argue that natural disasters and other acts of destruction create wealth and employment as we repair the damage they’ve caused. Professor Dan Ru...

Workers around the U.S. attend an average of nearly 18 meetings a week. They say nearly a third are skippable.

The COVID-19 pandemic has dramatically changed the way Americans spend their time. One of the most enduring shifts has occurred in the workplace, with millions of employees making the switch to work from home. Even as the pandemic has waned, more than 15 percent of full-time employees remain fully remote and an additional 30 percent work in hybrid arrangements (Barrero, Bloom, and Davis). These changes have substantially reduced time spent commuting to work; in the aggregate, Americans now spend 60 million fewer hours traveling to work each day. In this post, we investigate how people spend this saved time on other activities. Using detailed data from the American Time Use Survey (ATUS), we find that employed individuals allocate their saved commute time toward leisure activities and sleeping, while reducing overall work hours.

“What a great example of opportunity costs on display! Time is our most valuable resource and we take it for granted all too often.”

Using registration statistics, the AKC has compiled the list of most popular dog breeds of 2021, from #1 through #197. Where does your dog rank?

When paying someone else to do it can make financial sense.

LANSING — Six weeks ago, a quadriplegic Eaton County woman entered a Sparrow Hospital bed in a bid to get her auto insurance company to resume paying for the at-home care she's had for more than a decade.Six weeks later, she's still there and still waiting.The insurer, Lansing-based Auto…

No wonder Albert Einstein labeled compound interest the “eighth wonder of the world.”

In this economics lesson, students will examine a public-private partnership to learn about opportunity cost.

Half of people who haven't yet purchased a home blame their student debt. Here are strategies for getting approved for a mortgage even if you have the loans.

You can only save three of these companies. The rest never get founded. Which are you saving? https://t.co/yFCFKfeMJl

Earlier this year, the Dearborn automaker announced it was increasing its investments in electrification to $30 billion through 2025.

I read with interest Crain's editorial "It's time for state to give restaurants guidance." While I agreed with the overall point, I was alarmed that Crain's would suggest there was "no dispute" that Gov. Gretchen Whitmer's extended lockdown was the cause of reduced COVID cases and is saving lives…

The couple have relinquished their royal duties as of March 31. What comes next is reinvention.

Current Topic: Opportunity Cost Previous Topics Connected: Trade offs, scarcity, cost-benefit analysis Future Topics Foreshadowed: marginal analysis Article: Harry and Megan officially start their non-royal life Link: https://www.cnn.com/2020/03/31/world/prince-harry-meghan-new-roles-intl/index...

‎Show Think Like An Economist, Ep Core Principle 2 - The Opportunity Cost Principle - Or What? - Aug 18, 2020

SUPPORT us on PATREON: https://www.patreon.com/twocentspbsds SUBSCRIBE to Two Cents! https://goo.gl/jQ857H Every decision you make comes with a price, which economists call the "opportunity cost." Understanding it can help you become a better CFO of your life. Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions. sources: https://en.wikibooks.org/wiki/Microeconomics/Opportunity_Cost https://www.th...