1.03 Why Can't I Have It All Chart And Answered Questions Economics Honors Flvs Assignment

514 words - 3 pages

1.03 Why Can’t I Have It All?
Should I join an art club?
I would have to give up martial arts on Wednesdays. (long-term)
I’d be able to do two things I like. (long-term)
I won’t be free on Wednesdays for parties, hang-outs, etc... (long-term)
I’ll be able to work on my art skills, which could benefit my future. (long-term)
I would need to save money to buy my own art supplies. (short-term)
I wouldn’t have to use the used art supplies and since they are new, they will last longer. (long-term)
I would have to commute time to driving to the club. (long-term)
The driving distance is 20 minutes less than when I used to take martial arts, so I would use less gas. (long-term)
I would have to organize the time I spend studying for my classes and the time I spend practicing my drawing. (short-term)
This will teach me to manage my time in a responsible manner. (long-term)
Reflecting on My Work
1. Explain how the concepts of scarcity, choice, and opportunity cost relate to your dilemma.
There can be a lot of scarcity when you decide to join a club that requires you to work while outside of the club. With an art club, I won’t be able to do other things like hang out with my friends or go to my martial arts class on Wednesdays, although I am still able to go on Mondays and Fridays. I had to choose between which of the two I...

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