Introduction and a conclusion on the document below?

Describe some of the trade-offs faced by each of the following; choose three:

a. a family deciding whether to buy a car

b. a member of Congress deciding how much to spend on national parks

c. a company president deciding whether to open a new factory

d. a recent college graduate deciding whether to go to graduate school

e. a single parent with small children deciding whether to take a job

Also, what are three examples of important trade-offs that you face in your life?

Explain your reasoning.

Be sure to have an introduction, body, conclusion and reference page (See format and rubric below).

Paper

a household that is debating whether or not to purchase a vehicle will need to consider a

variety of competing priorities. The first consideration is the trade-off between cost and

convenience. For example, a family must evaluate whether or not the time and money

saved by owning a vehicle is worth the expense of buying and maintaining one. Thereisa

number of trade-offs that come along with purchasing a new automobile, like size against

fuel economy, new versus old, and so on. The dilemma that they are facing is determining

whether they need a smaller automobile that gets better gas mileage or a bigger car that can

fit the number of people in their household. When deciding between buying a new or used

automobile, the trade-off that must be made is between purchasing a vehicle that comes with

a guarantee but may have maintenance concerns or purchasing a vehicle that may be less

expensive but has unknown faults that may occur.

a.A discussion inside a family on whether or not to buy a car:

The family has to decide whether or not the burden of the costs associated with purchasing and

maintaining a car exceeds the benefits of having one.

Size vs. fuel economy: They could have to choose between purchasing a more spacious and

accommodating automobile for the complete family and a more compact automobile with better

gas mileage.The family could be forced to decide between purchasing a brand-new vehicle that

comes with a warranty and purchasing a used car, which can be less costly but might also have

potential difficulties with its upkeep.

b. A member of Congress trying to decide how much money should be allotted to the national parks:

Money against other priorities: The congressperson will need to make a decision on whether or

not to boost funding for the country's national parks or for other important government activities.

Accessibility vs the maintenance of They can find themselves in a position where they have to

choose between preserving the park's natural beauty and making it more accessible to tourists by

improving the infrastructure and the services.

They have to assess the long-term benefits of safeguarding natural resources against the short-

term economic expenses of funding national parks.

c. Acompanypresidentdebating whether or not to open a new manufacturing

facility:

The president of the company has to decide whether or not it is beneficial to develop a

new facility, which would involve putting money at risk and maybe incurring opportunity costs

as well.

Location as opposed to labor: When deciding where to locate a facility, it is important to

evaluate the benefits of doing so in an area with lower labor costs versus the benefits of doing so

in an area with higher labor costs.

Demand against Capacity: They are obligated to do a comparison between the anticipated

capacity of the plant and the demand for their products both now and in the foreseeable future.

d. A recent college grad who is considering continuing their education by enrolling in graduate school:

The graduate must decide if the cost of earning a graduate degree is worth the potential return on

investment in terms of professional growth and income. This decision must be made before the

graduate may enroll in a graduate program.

Time commitment vs. job prospects: They have to choose a trade-off between the opportunity

cost of spending more time on their education and the potential work opportunities that come

with having thedegree,they already have.

Students are put in a position where they must choose between pursuing a graduate degree in a

subject that piques their interest, despite the possibility that it will not have immediately

applicable applications, or opting for a more practical field of study that offers better

employment opportunities.

e. Making the decision to work full-time while being a single parent with small children:

In order to assess whether or not it is financially beneficial for a single parent to continue

working, they need to compare their salary against the cost of child care.

Time commitment against commitments to one's family: They have to make a decision about

whether or not the time commitment necessary for job is worth it when weighed againstthem

responsibilities as parents and careers.

The potential for career advancement in a job with a higher salary has to be compared against the

job stability offered by a position with a lower salary but more consistent work schedule.

Some examples of big compromises I've had to make include the following:

The amount of time I spend working has to be proportionate to the amount of time I spend

participating in activities that are beneficial to my overall health and well-being. In other words,

I need to find a happy medium.

It's a tough choice, but I have to decide between meal options that are better for my health but

need more time and effort to prepare and ones that are better for my convenience but contain less

nutrients.A decision must be made between spending and saving: I must decide how much of

my income

to save away for my long-term financial goals and how much to allocate toward meetingme

immediate need.