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Scarcity and Smart Choices Template

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26 views2 pages

Scarcity and Smart Choices Template

Uploaded by

Jewls
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Scarcity and Smart Choices

Cost-Benefit Analysis

Your Name __Julian Laguerre________________________________

Step 1: Asking a Question. Identify a dilemma in the form of a question that can be answered “yes” or
“no.”

Should I buy a new laptop for school?

Step 2: Using a Cost-Benefit Analysis.

Cost-Benefit Analysis
Your Dilemma: __ Should I buy a new laptop for school?____________________________________

Costs Benefits

expensive, upfront can benefit my grades with a higher level of learning

Need to lower my spending for other Have the latest features


things

learning a new sofware the portability

regret if I dont like it the most updated specs could be good for doing multiple
task

Compatibility issues Energy efficiency

Potential distraction Customization options that can benefit the speed of the
laptop

Depreciation Security Features

Software Licensing Costs Better cooling system

Step 3: Answer the reflection questions.

1. Explain how each concept—scarcity, choice, and opportunity cost—relates to your dilemma. Use
three separate statements in your response, one for each concept.

Scarcity: buying a new laptop would impact me in a way where i would have to cut cost on lots
of things i pay for.

Unless Otherwise Noted All Content © 2022 Florida Virtual School.


FlexPoint Education Cloud™ is a trademark of Florida Virtual School.
choice: I can either purchase a new laptop or use and old piece of junk.
opportunity cost: Me purchasing the laptop makes it so I cant buy any other thing.

2. When making a decision, are the costs and benefits equally important to you? Why or why not?
Based on your chart, explain whether the costs or the benefits have the greater impact on your
choice. Include whether short-term versus long-term costs and benefits affect your thinking.

They are not equal to me as I would find it as a good investment to purchase the laptop as I feel that it
would benefit my education as it would be much easier to learn on a new laptop.

3. Based on the chart and your responses to the above questions, what will be your final choice?
Write a brief paragraph with at least three details to persuade your instructor that this is the
best decision for you.
purchasing a new laptop for school is the best choice for me Since getting a new laptop will also have
long term advantages like Efficiency, updation, and reliability, these aspects will definitely improve my
performance in school and offices. Second, though I would have to pay quite a lot of money at the
beginning, having a device that will meet my educational requirements for several years is a good
investment. Last but not least, there would be an improved ambiance and typing comfort of the new
laptop which is crucial in the management of my schoolwork. It also supports my long standing
academic plans, as well as guarantees me the right equipment to enhance my output.

Unless Otherwise Noted All Content © 2022 Florida Virtual School.


FlexPoint Education Cloud™ is a trademark of Florida Virtual School.

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