Question

• What is the opportunity cost of paying for classes?
• Explain why college students are willing to pay for classes? Include a discussion of the ten economic principles in this context.

Answer 1

1. The opportunity cost of paying for classes is the profit that could have been earned had this money been invested somewhere.

2. College students are willing to pay for classes when they look at their long term goals and profits instead of short term costs and losses.

College students always have an option to take up a job after completing 12th, but instead they look at the opportunity cost of taking up a less paying job today and focus on their Increased skillset once they finish college and how they can get themselves a much higher paying job after a few years with a good career growth chart.