Ch+1.2

Ch 1.2 __Trade Offs__ __Defining opportunity cost__ __Thinking at the margin__
 * trade off are all the alternatives that give up whenever we choose one cousre of action over another
 * chose to play soccer and miss out on your job
 * farmers who use land to plant strawberries cant use the same to grow tomatoes
 * guns or butter- the steel used to make tanks is no longer available to building dairy equipmetn to make butter
 * opportunity cost is the most desireable alternative given up as a result of a decision
 * having to chose between 2 dishes of food, they're both very good but you will have to give up to eat the other
 * thinking at the margin is when you decide how much more or less you do
 * cost and benefit at the margin is when something like helping someone decide how much money to spend on a car, how many hours to work, how much time to spend watching TV

__Questions #1-6,8,9__
 * 1) A. If I were to go watch a basketball game, I'd be trading off those 2 hours for doing homework. B. Ifi were to hang out with a friend on a weekday, I'd be trading off time to go to the gym. C. If were to text a friend all day,I'd be trading off time to do chores.
 * 2) It must always be something desirable because if it wasn't, than there wouldn't be a decision to make.
 * 3) Economists use the phrase "guns or butter" to just say that rescoures are always sometimes limited.
 * 4) Thinking at the margin means simply means, deciding how much more or less you need to do.
 * 5) If I can save $50 on a car I'm buying in another city and the trip only costs me $10 for gas, than the trip is definitely worthwhile. In the end ill save $40 but thats enough for a new shirt or nice dinner.
 * 6) A. Opportunity cost for eating pizza could be saving that money for some other food. B. Opportunity cost for going to see a movie on Tuesday would be, doing homework. C. Opportunity cost for going to see a movie on Saturday would be having a family night. D. Opportunity cost for watching television would be working ou
 * 7) When deciding whether to work 2, 4, or 6 hours or not at an after-school job, I would have to choose 2. Becasue, If I worked 4 hours I wouldnt have time to go home and do my stuff but If I worked 2 hours and still have to hang out with friends. Now if I worked 6 hours,yeah I would be making more money but I would never have any time anything and I'd be exhausted all the time.
 * 8) The factors that the employer would take into consideration if he were to hire another worker would be- train the new employee, hours that the employee would work, and any problems he/she would bring.
 * 1) The factors that the employer would take into consideration if he were to hire another worker would be- train the new employee, hours that the employee would work, and any problems he/she would bring.