Question

(p. 18 portunity cost of reading thi 3. What is the opportunity QUESTIONS FOR REVIEW textbook textbook? negative 4 Evaluate the following staten like football: one team wins an statement: "Trade is wins and the other loses." How would you respond if your instructor we daily quizzes on the course readings. Are these quizzes a positive incentive or a negative incentive? 2 Explain why many seniors often earn lower grades in their last semester before graduation. Hint: This is an incentive problem. OTHY OORLEMS tahun at the end of the section)

Answer 1

Answer 1: Quiz is one of the effective tool for increasing knowledge continuously. It's like a game in which the players attempt to answer questions correctly and helps to test your knowledge about a certain subject. There are many benefits of the quiz competitions. For Example- One can improve your timing of giving the answers of a particular question and can be able to know about the new technology and current affairs.

Through performing daily quizzes on the course readings, one can improve their reading skills. Frequent quizzing can be used both before lecture and after class sessions to improve student retention and motivation. Students often fear of participating in quiz competition thinking of what will happen if they don't give right answer. This stage fear can be overcome if they take initiative to participate in daily quizzes.

Therefore, as a student if i was instructed to participate in daily quiz, though i do fear at taking first step, I will grab this opportunity to increase my reading skills and knowledge by keeping in mind all those benefits which i can earn through it.

Answer 2: Many Students will try to get good grades at the beginning so as to earn the trust of their professors, friends etc.. They strive hard to achieve good name. But as they come near to their graduation, their grades start decreasing because they do like to enjoy those final months with their friends. They tend to earn lower grades in their last semester because to them, the benefit of working hard and earning high grades for that one semester is not greater than that of last semester, because it is likely not going to change the outcome of their graduation so they do prefer to gain everlasting memories before entering into new environment. They give themselves a break as Family and friends are just as, if not more important than, their academic pursuits.

Answer 3: A per meaning of dictionary, an Opportunity cost is the loss of other alternatives when one alternative is chosen. It is a benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.

Opportunity Cost of Reading a Text Book:

Reading a book also takes time. So whenever you decide to read a book, ensure that your opportunity cost of reading it is lower than that of gaining benefit from opting other things to do. It is the value of next best alternative use. For example, you spend time to a play games with your friends, you cannot spend that time at home reading a book. If your next-best alternative is playing games with friends is reading the book, then the opportunity cost is the pleasure you forgo by not reading the book.  If you’ll regret not doing one but not the other, that’s the one you should do. So, Ask yourself which opportunity is the rarer and plan a head of time.

Answer 4: Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. It take place within an economy between producers and consumers.

The given statement "Trade is like a Football- One team wins and the other loses" is correct.

In the game of football, one has to play both the roles of Offence and Defense. Just like in football, a trader has to perform both the roles of quarterback throwing the touchdowns and the lineman blocking the run down the middle. Playing hard while on both sides of the ball takes both big profits and small losses to win this game. If they fail to play these both roles offense and defense they cannot win over the long term in trading no matter how well they do with one but then fail at the other.

Therefore a trader had to plan properly by considering both risks and returns. Whenever there is high probability he has to grab that opportunity to become successful and maintain his position in market. Just like a football team one must both be able to score points and also keep the other team from scoring. In similar way, a trader has to not only earn profits but also shall maintain them over the long term to gain good market position.