Economic concepts and terminology

Discussion Question: Every time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life, identify a situation where you were presented with a choice, the opportunity cost of the choice you made, and the process you used to make your choice. As part of your discussion, explain whether or not responsible stewardship played a role in your choice. Remember to use the appropriate economic concepts and terminology that are applicable to your answer. You can use retiring the military and taking time off from working for a couple of years to finish school using the G. I bill. You can talk about the change in income between military pay and just receiving disability pay and funds for going to school and how I was able to maintain the same lifestyle even with the change in pay

 

Explanation & Answer length: 500 words