As for myself, I would like to have more time to do sports. In order for me to do sports, I would have to give up studying time. Therefore, I try my best to find a balance between the two activities. What kept me from getting what I want is perhaps the scarcity of time. An example of the trade-off I've had to make is every Monday, Wednesday, and Friday I would participate in the school's basketball team. Yet I would leave as soon as practice ends as opposed to some other girls who can stay a little longer and practice the materials we learned today. On a weekly basis, I traded 6 hours of my studying time for sports. So in other words, the opportunity cost for 6 hours of sports per week is 6 hours of studying time. Another example is when the sports team goes to competition during school hours. I was absent from school for about two days. Simply put, I have traded two days of school for two days of basketball game. The opportunity cost is therefore, 2 days of school.
Friday, February 22, 2013
Topic 2: Scarcity at School?
An example of scarcity that students of PAS encounter is sleep. Like everyone else on this planet, each and every individual gets 24 hours per day and for us students, that 24 hours is not nearly enough to satisfy all our desires. Sleep is often seen as secondary in comparison to all these other events students wanted to do and is often sacrificed. To gain enough sleep, students would have to give up other activities they enjoyed such as gaming and chatting. A scarcity that office staffs may have to face is the scarce number of employees. Due to this reason, it becomes difficult for the office as a whole to carry out assignments swiftly and quickly. To gain more office staffs, the office might have to give up more money from its budget.