Week 1 essay questions1 . What luck costs did you find out in reading this chapter ? If you read four more chapters of this textual matter today would your hazard costs (per chapter ) increase or minify ? ExplainOpportunity cost next best alternative giving up compete computer gamesIf one reads additional four chapters , the opportunity cost will increase . As you increase the eon allotted for reading , you also increased the time you sacrificed for playing computer games Opportunity cost is all about sacrificing or giving up the second best alternative . A decision made between choosing will incur opportunity cost ( Opportunity Cost , 20072 . Markets reward exclusives according to their issue communism rewards people according to their needs . How might these polar systems affect work effortRewards are given to individuals who perform swell up and give higher outfit than others .
Rewards are used in stintings in to boost the individuals (for example , labor ) takings for the benefit of the market and the parsimoniousness itself . If rewards exist , then at that place is a chance that individual outputs will be boosted . In the case of communism , rewards have been perceived differently . In a communist country , rewards maybe harmful to their economy . Giving rewards to those in need may affect the individual outputs . If one works so hard and produces more output , his or her efforts to boost outputs are useless . Economy in a communist country is limited and sometimes economic growth is suppressed (Council for Economic Education , 20053 . Why is per capita gross domestic product (output...If you want to get a full essay, order it on our website:
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