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March 23, 2023

What do economists mean by ‘opportunity cost?’ ?What are your opportunity costs in taking this course? 2. Demand v. Quantity Demanded ? What is the difference between a de

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1. Opportunity Costs

What do economists mean by "opportunity cost?" What are your opportunity costs in taking this course?

2. Demand v. Quantity Demanded

What is the difference between a decline in the quantity demanded and a decline in demand? Give an example of something that you now buy less of. Is it an example of a decline in the quantity you demand or a decline in your demand?

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