Nicole Golan
I joined this class in order to better my understanding regarding economics as a whole. I feel in joining this class, I will learn real-life situations/business. I would like to expand my knowledge of how the online market works and the trading stocks. I also want to learn more about how business cooperations come to be and the steps needed in order to be successful in one.
The only personal experience I had with economics was when I worked in a catering company. I always hear about trading, marketing and business from the elderly in my family because my father works as a businessman. Also, I have a credit card where I get a limited amount of money to spend every month and I have to manage the money in order for it to be enough.
Clothes that are limited edition usually cost a lot of money because there is a limited amount of them and that's why they are so expensive - an example of scarcity. However, it can be a very expensive thing for someone, but this someone has been working so hard to earn the money for this piece of cloth and he spends all his money on it. This is an opportunity cost because he spent all his savings on this one thing.
