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?
Costs
Benefits
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 preferred the most and I chose my art club.
2. When deciding, are the costs and benefits equally important to you? Why or why not. Based on your chart, explain which category, costs or benefits, would have the largest impact on your decision?
Well, when making my decision, I’d say that my costs are big because most of it is long-term, but so are my benefits, which could be proven to be beneficial for my future. I’d say my biggest cost would be commuting time driving to the club and the less time it would take me to get to the club, which will allow me to save gas.
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.
I have come to the decision that I should join an art club. One reason for this would be that I would be able to develop my art skills if I want to become a digital designer in the future. Although I would have to drive 30 minutes, it’s 20 minutes less from where my martial arts school is located, making gas less of an issue. Lastly, joining an art club would allow me to organize myself. I say this because now, I would have to bring drawings to work on back home and this would give me time to organize myself. This could help me become time responsible when I become an adult.

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