How can knowing the opportunity cost of buying a product affect people’s economic decisions?
Responses
It can force them to recognize how the decision they are about to make compares to all other possible decisions.
It can force them to recognize how the decision they are about to make compares to all other possible decisions.
It can lead them to consider the ways in which buying the product supports a flawed and unjust economic system.
It can lead them to consider the ways in which buying the product supports a flawed and unjust economic system.
It can show them how to avoid a trade-off and use the same resources to meet two needs rather than one.
It can show them how to avoid a trade-off and use the same resources to meet two needs rather than one.
It can help them to prioritize two possible uses of their money and guide them to choose the best option.