Question

Help with Economics

Answer 1

@Vocaloid

Answer 2

any ideas so far? based on the description on job A what might be some good things about job A?

Answer 3

Pays well

Answer 4

And people at the job are nice

Answer 5

good, I might also add that the work is a bit more creative (better than filling out paperwork), and the professionalism/formality may indicate that this company is a bit more prestigious and has higher standards for conduct

Answer 6

thoughts on the benefits of job B?

Answer 7

The company has more chances of promoting you.

Answer 8

Also, the people are nice and friendly

Answer 9

They are helpful which maybe a benefit if you are new and don't know as much

Answer 10

good, something else would be the shorter commute

now going to the next row in the table: monetary costs of job A?

Answer 11

umm what is monetary

Answer 12

money, like what are the financial costs of taking job A?

Answer 13

overtime hours?

Answer 14

that would be a non-monetary cost since that's time being spent

I would say the commute (have to pay for gas/bus fare) and possibly the cost of formalwear since there's a dress code

Answer 15

thoughts on job B monetary cost?

Answer 16

the entry level cost. its low cost will cost you more I think?

Answer 17

good, the pay is low so that's a monetary cost

Answer 18

so for non-monetary costs, any thoughts on job A? what are the sacrifices/costs that aren't related to money?

Answer 19

well the overtime hours

Answer 20

good, other things could be the commute taking time, and the lack of opportunities to advance

thoughts on non-monetary for job B?

Answer 21

the paperwork and spending the time to fill it out

Answer 22

hm, I suppose so, although both jobs will take time to do

this one is a little harder but I was thinking this is a very low-skill entry level job which means you can be very easily replaced, plus it's not very interesting/challenging work

Answer 23

for opportunity costs this is pretty straightforward, for each job think about what sort of opportunities are being given up, both in terms of a job and how it might affect one's personal life

Answer 24

Advancing in this job takes time which gives up the oppurtunity to grow. overtime hours gives up the time to have time for yourselves and your personal life

Answer 25

this is for job A

Answer 26

good, any thoughts on job B?

Answer 27

well something with the paperwork? im not sure :/

Answer 28

well, perhaps in job B you are giving up the opportunity to use you education/training, you are also sacrificing the opportunity to have a higher income which could have been used for savings/investment/personal enjoyment, etc.

Answer 29

anyway for the last row, whether benefits outweigh cost, I believe this is an opinion-oriented question, personally I believe that job A's costs outweigh the benefits (working overtime and commuting suck), and job B's costs aren't great either but I'd be happier with a shorter commute and more opportunities to advance

Answer 30

and then question 2 is sort of going off of what you say for the benefits vs cost question

Answer 31

Of both of these jobs I would take job 2 becuase of the chances of getting promoted. Also the higher income is very important which this job provides

Answer 32

is this good enough

Answer 33

job B is the one w/ the lower income but yeah the promotion thing is good, I would also mention the commute and casual atmosphere

Answer 34

Of both of these jobs I would take job 2 because of the chances of getting promoted. Also the commute and causal atmosphere will provide for a nice environment to work in

Answer 35

good (got interrupted by something)