The Benefits of College and Opportunity Cost - 991 Words

If you were to by chance walk into a normal, bland Economics 101 class, you are almost destined to overhear a professor speak about one of the most important cornerstones of basic microeconomics, opportunity cost. By definition, opportunity cost is what one forfeits in order to pursue something else. A big decision of life that exemplifies the exact definition of opportunity cost is when teenagers go to college. Instead of getting a job at a low level right out of high school, many of todays concerned teens are giving up their ability to immediately labor for income and instead go straight to college in hopes of obtaining a higher level occupation. The concerning question on the mind of unknowing newcomers to the real world is, however, if college is all that it’s built up to be. The fact is, if you look at attending college in the long run, the ability to conceal a high paying job by the time of graduating is very high, making the opportunity cost very worth it. There are a plethora of people who will tell you college is in fact not worth the supposed wasting away of your money because you will never be able to compete with the rising cost of student loans that have plagued the recent population of higher learners. This is true if you only look at things though a very small spectrum. Sure, the economy might not be at the best it’s ever been, but another concept of economics that needs to be acknowledged is the business cycle. The business cycle is a very solid theory thatShow MoreRelatedThe Cost Of Opportunity Cost1108 Words   |  5 PagesOpportunity cost can be defined as the price of a substitute that might be forgone in order to pursue an assured action. The forgone cost. Opportunity cost can also be defined as the best forgone alternative in a scenario where a decision had to be made between some many mutually exclusive or inclusive alternatives (Mankiw, 2009). Simply put opportunity cost is what one is missing out when they mak e a choice. I could be watching a game of European Soccer or watching a rerun episode of Game of ThronesRead MoreThe Opportunity Cost Of Relationships797 Words   |  4 PagesThe Opportunity Cost of Relationships In this article, the author Chrissie Deist described about what people have to give up to get what they want. This is called the opportunity cost. He also illustrated an example of this with apples and oranges. Moreover, the opportunity cost does not always have to be financial cost. Deist did mention that romantic relationships have an opportunity cost as well. He provided some lists of things people sacrifice to be in relationships such as losing their personalRead MoreShould College Athletes Be Paid?1578 Words   |  7 PagesAshay Mehta Nou Per 8 Should College Athletes Be Paid? One of the hottest debates in the sports industry is if college athletes should be paid. If you want to pay these athletes, how would the college determine the dollar amount that should be paid? Should the basketball team make more than the football team? Should the the soccer team be paid as well? Cheerleading? Chess team? Should everyone on the team get a salary? What if your college is good at football and your basketball team is awfulRead MoreMicroeconomy Homework1744 Words   |  7 Pagesto produce a few additional printers, she is choosing at the margin when she compares A) the total revenue from sales of printers to the total cost of producing all the printers B) the extra revenue from selling additional printers to the extra costs of producing these printers C) the extra revenue from selling additional printers to the average cost of producing the additional printers D) HPs printers, to printers from competing companies, such as Lexmark 3) Scarcity exists because A)Read MoreGraduation Speech Over College Education Essay1686 Words   |  7 PagesOver the years, there has been a great deal of debate over college education and it’s worth to society and the students who is currently contemplating where they should go or not. In addition, the question of cost, and just how expensive college has become over the last decade has come to attention. It is clear that Americans and important figureheads have argued over whether the benefits of attending college outweigh the benefits of just high school diploma or another type of post-secondary schoolingRead MoreWhat Does a College Education Buy An1281 Words   |  6 Pagesï » ¿ The Virtues of Higher Education In the essay â€Å"What A College Education Buys† written by Christopher Caldwell, the author questions whether or not the value of a college education today supports the high cost of obtaining a degree. Having a college degree is viewed as having achieved some measure of accomplishment. People think you are more intelligent for having gone to college. Employers seem to be more eager to hire college graduates. Certainly we have been told that having a degree will helpRead MoreThe Importance Of College Education1257 Words   |  6 Pageswhen deciding whether to go to college or which college to attend. The importance of college has been a long-debated topic that is becoming more and more popular. It used to be that a high school education was necessary to succeed, and a college degree was merely beneficial. However, today college has escalated into something that is considered necessary to succeed. New York Times columnists, David Leonhardt, states that â€Å"if youre someone who can get into college, going is practically a no-brainerRead MoreWhy People Attend College Essay1193 Words   |  5 Pagesmajority of people these days are planning or are going to college. These people have many reasons for going to college. The option of going to college is a major decision and there are many factors that are considered in making this decision. One of the many reasons of making the decision to go to college is to receive a bigger salary. Another reason is for the opportunities that become available from going to college. People also decide go to college to be better prepared and successful in the future. Read MoreEstablishing Equality By Lowering The Cost Of College Tuition1615 Words   |  7 PagesEstablishing equality by lowering the cost of college tuition My research question was stimulated by â€Å"The Life of Peasants† from Life on a Medieval Barony and A Letter to my Nephew by James Baldwin. Throughout both articles equality and the idea of class systems are discussed thoroughly. James Baldwin talked about integration as meaning â€Å"we with love shall force our brothers to see themselves as they are, to cease fleeing from reality and begin the change it, for this is your home† (Baldwin). BaldwinRead MoreThe Importance Of A College Education?1419 Words   |  6 PagesEnglish 101C Professor A.Pino Nov 13th 2017 The importance of a college education In the period of their high school career, the students shall begin to ask and consider the college education’s importance. The answer is that the accepting college education offers chances to graduates, which are more widespread to those who have the levels of senior high education or less. Most of people understand that they desire to accept a college education, but they do not know why or how it would fulfill their